THE latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey has revealed a busy start to the year for the Scottish housing market.
Surveyors have noted an increase in both demand and supply levels. Looking at demand, a net balance of 21% of respondents in Scotland reported new buyer enquiries rose through January. When it comes to supply, a net balance of 27% of respondents said instructions to sell increased.
This increase in both is expected to lead to a rise in agreed sales. A net balance of 2% of respondents reported a rise in sales in January, up from the -2% reported in the previous survey. A net balance of 34% of Scottish respondents anticipate sales will rise over the next three months.
In terms of price, a net balance of 42% of respondents stated that house prices rose over the past three months – the highest this balance has been in almost a year. Surveyors are optimistic that house prices will continue rising, with a net balance of 23% of Scottish respondents anticipating prices will increase over the next three months. This is replicated over a 12-month period with a net balance of 55% of respondents expecting prices to be higher in a year’s time.
Commenting on the sales market, Marion Currie from Galbraith in Dumfries & Galloway, said, “Market appraisals and subsequent instructions are picking up, giving new stock for late winter / early spring. Viewing numbers are up on December figures as buyers become more active following the seasonal lull, and with a renewed confidence following the interest rate cut.”
Thomas Baird from Select Surveyors Ltd in Glasgow added, “A strong start to 2026 for home report instructions in the month of January compared to last year. A stable but growing projection for the Scottish housing market has been made for 2026.”
Commenting on the UK picture, RICS chief economist Simon Rubinsohn said, “There are early signs that market conditions may be improving after a challenging period, although activity levels are still subdued, meaning any recovery is likely to be gradual. While the strengthening 12-month outlook is encouraging, near-term expectations remain relatively soft, reflecting ongoing economic uncertainty. Whether this tentative improvement develops into sustained momentum will depend heavily on the trajectory of mortgage rates and broader macro confidence over the coming months.”
