HOUSE market prices are rising at a “solid pace” in Scotland despite a slump elsewhere in the UK.
Surveyors have warned the market is “pretty much flat-lining” in other parts of the UK amid Brexit uncertainty.
Top-end homes in particular appear to be facing a more challenging environment, the Royal Institution of Chartered Surveyors’ (Rics) report for July said.
Nearly seven in 10 (69%) UK property professionals said sales prices are coming in below asking prices for homes marketed at more than £1 million, up from two-thirds (66%) who said this in April.
Asking prices for homes valued at £500,000 or less appear to be holding up more firmly when compared with higher-priced properties.
For properties on the market for up to £500,000, 59% of surveyors reported that sales prices have been at least level with asking prices.
Prices in Scotland, Northern Ireland and Wales were increasing steadily, Rics said, as prices fell in London, south east and East Anglia.
Surveyors’ expectations for house sales and prices were flat in the UK as a whole, the report added.
Simon Rubinsohn, Rics chief economist, said: “The latest Rics results will provide little comfort for the market with all the key indicators pretty much flat-lining.
“Indeed, the forward-looking metrics on prices and sales also seem to losing momentum as concerns, clearly voiced in the anecdotal feedback, both about Brexit and political uncertainty heighten.”
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