Looking at demand, the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey reveals a net balance of 21% of respondents in Scotland report that new buyer enquiries rose through January. In December this balance was reported to have been flat.

When it comes to supply, a net balance of 27% of respondents in Scotland report that instructions to sell rose through January, up from the net balance of -3% that was seen in the December survey.

This increase in both instructions and enquiries is expected to lead to an increase in agreed sales. A net balance of 2% of respondents reported a rise in sales in January, up only marginally from the -2% reported in the survey previous. But a net balance of 34% of Scottish respondents anticipate that sales will rise over the next three months.

With regard to pricing, a net balance of 42% of respondents in Scotland report that house prices rose over the past three months, which is the highest this balance has been in nearly a year.

And surveyors are optimistic that house prices will continue rising. A net balance of 23% of Scottish respondents anticipate that house prices will increase over the next three months. This optimism is replicated over a 12-month horizon with a net balance of 55% of respondents expecting prices to be higher in a year’s time.

Commenting on the sales market, Marion Currie, AssocRICS, RICS registered valuer at Galbraith in Dumfries & Galloway, said: “Market appraisals and subsequent instructions are picking up, giving new stock for late winter / early spring.

“Viewing numbers are up on December figures as buyers become more active following the seasonal lull, and with a renewed confidence following the interest rate cut.”

Thomas Baird, MRICS of Select Surveyors Ltd in Glasgow added: “A strong start to 2026 for home report instructions in the month of January compared to last year. A stable but growing projection for the Scottish Housing Market has been made for 2026.”

Commenting on the UK picture, RICS chief economist, Simon Rubinsohn, said: “There are early signs that market conditions may be improving after a challenging period, although activity levels are still subdued, meaning any recovery is likely to be gradual.

“While the strengthening twelve-month outlook is encouraging, near-term expectations remain relatively soft, reflecting ongoing economic uncertainty.

“Whether this tentative improvement develops into sustained momentum will depend heavily on the trajectory of mortgage rates and broader macro confidence over the coming months.”