Housing market 'turns the corner'

Surveyors said more properties were coming on the market

The housing market in Scotland may have reached a turning point with prices now on the rise, according to surveyors.

A Royal Institution of Chartered Surveyors (RICS) report found there was an upturn of confidence in July.

The proportion of surveyors expecting prices to rise over the next three months exceeded those predicting a fall by 39%.

Surveyors reported both an increase in properties on the market and enquiries from buyers.

RICS spokeswoman Sarah Speirs said: "More vendors are prepared to put their homes on the market, more people are enquiring about property for sale and of course house prices increased slightly with further increases expected over the next three months."

The 39% "positive balance" of surveyors expecting prices to rise was the highest since February 2008.

In London the figure was 33% while for the UK as a whole it was 8%.

Despite the growing optimism, Ms Speirs warned the market was fragile.

"Significantly, the positive news on prices may prompt more properties to come on to the market," she said.

"But if mortgage availability remains insufficient to meet the increase in buyer demand then it is possible that prices may slip back again, especially if unemployment continues to rise and mortgage rates increase."

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