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Property demand is outstripping supply

There is a desperate need for more houses to come on to the market in Scotland to meet the demand for property in some areas, experts have said.

Prices are continuing to rise alongside a lack of available housing stock, according to a report by the Royal Institution of Chartered Surveyors (RICS).

However, there is also steady interest from would-be buyers.

The report's authors said while activity in the housing market is now showing encouraging signs of life in areas that were fairly stagnant, in general the market continues to be hampered by the continued lack of available housing stock.

Despite increased interest from potential buyers, instructions from vendors continued to fall and the predicted "spring bounce" did not materialise, the report said.

Price rises in the coming months are not expected to deter buyers, with 46% of surveyors predicting an increase in sales during the next three months.

RICS Scotland director Sarah Speirs said: "Now that the housing market recovery is under way and mortgage finance is more readily available, buyers seem to be looking to test the market across Scotland.

"That said, it is a major concern that we are not seeing enough houses coming on to the market to meet this demand."

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