The number of properties advertised for sale in Scotland has increased by 85% in parts of Scotland.
Scottish estate agent DJ Alexander found that the number of properties advertised for sale has increased by 85% in Perth between April 2022 and April 2023.
During the same period there were increases of 65% in Inverness, 55% in Dundee, 54% in Edinburgh and 51% in Glasgow; but 8% down in Aberdeen.
The greatest increase in the number of properties for sale was among detached and semi-detached homes.
In Glasgow, detached and semi-detached home volumes were 210% and 73% higher respectively; in Edinburgh they were up 197% and 122%; and in Dundee they were 111% and 96% greater.
In the shorter term, all of Scotland’s major cities saw the volume of advertised properties increase between March and April of this year.
David Alexander, chief executive of DJ Alexander, explained: “What is fascinating is that despite many gloomy predictions about price collapses and the likelihood of reduced volumes the property market is remaining stubbornly upbeat.
“Obviously there has been a reduction in average prices, but this was following a period of record rises and would be expected regardless of the direction of travel for mortgage rates.”
He continued: “Of course higher sales volumes could be a sign of people escaping the market before their homes become unaffordable but, in my experience, we are seeing properties sell really quite rapidly and for good prices, so I think there remains a reasonable bounce in the sector.”
“I think it unlikely that the Bank of England will continue to raise interest rates, so there is every prospect with falling inflation, an easing of utility costs - and continued good news on employment levels - that the housing market may get an unexpected boost as we go through the year.
“This will produce a slowing of the fall in average house prices, and greater support for the market at a time when it was forecast to dip quite substantially.”
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