A net balance of 39% of respondents in Scotland expect that house prices will rise over the next three months, which is the highest this balance has been since December 2024, up from the 32% seen in the previous report. This comes as a net balance of 30% of surveyors in Scotland report that house prices rose over the past three months.

Sales in Scotland are also expected to rise over the next three months. A net balance of 34% of survey respondents in Scotland expect sales to increase, up from the 29% seen in the survey previous.

On the demand side, a net balance of 10% of surveyors in Scotland report that new buyer enquiries rose through November, which is up from the 3% that was seen in the previous report. Anecdotally, it seems that the October figure was impacted by pre-UK Budget uncertainty.

When it comes to supply, respondents in Scotland report that instructions to sell were on the rise in November. A net balance of 19% of Scottish surveyors report that new instructions to sell rose last month, up from the -3% seen in the October survey.

The increased enquiries and listings are yet to translate into sales through. Surveyors in Scotland reported that newly agreed sales were broadly flat in November (a net balance of 2%).

Commenting on the sales market Marion Currie, AssocRICS, RICS registered valuer at Galbraith in Dumfries & Galloway, said that whilst uncertainty around the Budget impacted the market, expectations are strong for the New Year.

She said: “Pre-Budget nerves continued to dampen the market, and existing sales have needed nursed along to a greater degree than we have seen for a while. The majority of market appraisals are looking to Spring 2026 launches which is normal for this time of year.”

Ian Morton MRICS of Bradburne & Co in St Andrews added: “A slow and steady market currently with marketing being prepared for the new year when the market traditionally increases. Values are level or dropping slightly.”

Commenting on the UK picture, Simon Rubinsohn, RICS chief economist said: “The housing market has been struggling for momentum for several months, and the recent Budget announcements are unlikely to materially shift that picture.

“The ending of Budget related uncertainty is welcome, but the fundamental challenges of affordability and elevated borrowing costs will in all probability keep activity subdued in the near term.

“That said, the twelve-month outlook has brightened somewhat, likely reflecting a growing sense that the Bank of England may have a little more scope to reduce interest rates than seemed plausible only a short while ago.

“Meanwhile in the lettings market, although tenant demand does appear to be softening the lack of stock is keeping rental expectations elevated and the additional tax levied on landlords in the Budget will likely exacerbate this trend.”