Indeed the price balance for Scotland is the second highest in the UK after Northern Ireland, and the highest it has been for three months.

However, whilst respondents also remain relatively upbeat about the short-term outlook, there are signs that the elections and global headwinds have been impacting on activity.

When it comes to buyer demand, a net balance of -39% of respondents in Scotland reported that new buyer enquiries fell through April, which is the lowest this balance has been since July 2023.

When it comes to supply, a net balance of -26% of respondents in Scotland report that instructions to sell declined through April, falling further into negative territory from the -15% that was seen in the March survey.

Unsurprisingly, with demand and new supply subdued, agreed sales were reported to have fallen with a net balance of -18% of surveyors in Scotland noting a decline in sales.

Looking ahead though, surveyor expectations regarding house prices rose slightly. A net balance of 10% of Scottish respondents anticipate that prices will rise over the next three months, up from the -10% that was seen in the survey previous.

On the sales front, a net balance of 5% of respondents in Scotland expect sales to rise over the next three months. Comparatively, this balance was reported to have been broadly flat in the March survey.

Commenting on the sales market in Scotland, Ian Morton MRICS, of Bradburne & Co in St Andrews, said: “Sales are steady and above the offers over price. There is though hesitation from sellers going to the market though due to economic uncertainty.”

Marion Currie ASSOCRICS, RICS Registered Valuer at Galbraith in Dumfries & Galloway, added: “Activity is now increasing, and where fall-throughs occur, replacement buyers have come along quickly. Buyers remain cautious on purchase prices though, generally offering around valuation or only relatively small premiums over.”

Thomas Baird MRICS of Select Surveyors in Glasgow, commented: “The increased cost of living, fuel price rises, and interest rates are slowing down the house sales market and consequently home report instructions”.

Commenting on the UK picture, RICS head of market research & analysis, Tarrant Parsons, said: “April’s results show a housing market still in the grip of macro headwinds stemming from the Middle East conflict. Recent warnings from the Bank of England that interest rate rises may be required to tackle renewed inflation, driven by elevated oil prices and disrupted supply chains, underline the challenging environment facing buyers.

“Until there is a clearer path for inflation and borrowing costs, activity and sentiment look set to remain subdued, particularly across southern England and London where affordability pressures are most acute.”