Scotland surveyed: more forecast prices rising than falling

Scotland’s public is more optimistic about house prices, with 29% expecting them to rise than fall over the next year, according to the latest Bank of Scotland Housing Market Confidence tracker.
29% of respondents predicted that house prices will rise over the next 12 months, with 25% forecasting a decline.

The headline House Price Outlook balance (the difference between the proportion of people that expect house prices to rise rather than fall) stands at +4 this October – high compared to -17 in October 2011, but down slightly on June 2012’s +6.

However, the majority of those surveyed think that any price change in the next year will be fairly small – 56% think that any movement will be between plus 5% and minus 5%.

The survey also shows that 57% of respondents think that it will be a good time to buy in the next 12 months. Only 2% were positive about both buying and selling, though, which suggests that market activity will remain slow.

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