Most chartered surveyors tell the RICS they have seen prices dropping across the country since April.
When RICS last reported a price decline three years ago, showings were not allowed due to the pandemic and there was widespread economic uncertainty about jobs and incomes.
Alan Kennedy, of Shepherd surveyors in Fraserburgh, said higher interest rates had "stifled market activity, though demand still exceeds supply in some sectors". "Prices are holding up, so far in this area, but where they go later in the year will depend on the costs of borrowing and ongoing inflation. Caution is at the forefront of most of the market."The latest Halifax House Price Index said the average UK property price was £285,044
Simon Rubinsohn, chief economist at RICS, said pressure on buyers was extending to renters, who were also finding that supply was failing to match demand for property leases. But a different take on the market, published on Monday by Halifax, the biggest mortgage lender with its own House Price Index, showed Scottish prices down by 0.7% in the past year, while UK prices were down 2.4%.
Bellway said on Wednesday that completions are expected to fall, and the buyer reservation rate for new homes is down by 28% this year, to 156 per week.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Scotland's top tourist destination crowned in new researchNew research has named the top 10 most 'Instagrammable' tourist destinations in the UK, including one popular Scottish spot that was found to have almost 1 million posts on the platform.
Lire la suite »
Scotland's papers: Attainment gap widens and government spending probeSchool exam results and bank card spending by civil servants make Scotland's newspaper front pages.
Lire la suite »
IFS report: Where are Scotland's inequalities?A new study says the north east of Scotland has a case for more economic help.
Lire la suite »
Popular Scotland tourist spots through the eyes of disgruntled visitorsThe Daily Record has taken to travel website Tripadvisor to look at some of Scotland's most popular tourist spots — sharing some bad reviews that prove you can't please everyone.
Lire la suite »
BBC Scotland political editor Glenn Campbell treated for tumourThe political editor at BBC Scotland is taking time off for treatment after revealing he has a brain tumour.
Lire la suite »
Adoption details taken off Scotland's People website over safety fearsThe details were publicly available through Scotland's People but were removed after safety fears.
Lire la suite »