PixabayHouse prices have continued to grow in Scotland despite fewer properties being listed for sale amid continuing coronavirus restrictions, according to new figures.
In the monthly UK Residential Market Survey for the Royal Institution of Chartered Surveyors (RICS), 38% of Scottish respondents reported an increase in prices in February.
However, for the fourth consecutive month, the number of properties being listed for sale also fell with respondents citing the current lockdown behind a fall in appetite to sell.
There was a 34% drop in the number of new buyer inquiries in February and the same figure for newly agreed sales – the second such drop in a row.
David Cruickshank, of DM Hall in Elgin, said: “Few properties are being offered for sale due to Covid restrictions.
“Demand remains high though, resulting in short marketing periods and rising house prices.”
Over the coming three months, 17% of respondents expect house prices to increase again.
Alexander Inglis, of Galbraith in the Borders, also said: “We are seeing strong demand from buyers but sellers have been reluctant to come forward due to the lockdown and time of year.
“This is starting to change with more sellers now ready to test the market.”
Follow STV News on WhatsApp
Scan the QR code on your mobile device for all the latest news from around the country
