The RICS UK Residential Market Survey for August 2015 has been released, showing an increase in national house price growth as supply failed to meet the rising demand for homes.
According to the survey, which canvasses RICS members from across the UK, a net balance of 53% more respondents reported price rises while RICS’ own price indicator reached a 15-month high.
It is heartening to note that while the report suggests all areas of the UK are expected to chalk up significant sales growth over the next few months, the situation looks particularly upbeat in Scotland.
North of the border, 28% more members said they expected prices to continue rising over the next three months.
Further analysis indicates that UK prices now look likely to rise in the region of 6% over the course of 2015, compared with 3% predicted at the beginning of the year.
For more information, you can sign up to read the full RICS report here.