On the demand side, a net balance of -3% of surveyors in Scotland report that new buyer enquiries fell through December, which is down from the 11% seen in the November report.

When it comes to supply, a net balance of -5% of respondents in Scotland report that instructions to sell declined through the final month of 2025, falling from the net balance of 18% seen in the survey previous. And with both demand and supply subdued, it’s unsurprising that sales levels fell broadly flat in December (a net balance of -2%).

But surveyors are more optimistic about the outlook. On the sales front, a net balance of 46% of Scottish respondents anticipate sales will rise in the first three months of 2026.

Looking at pricing, a net balance of 35% of respondents in Scotland expect that house prices will rise through the first quarter of 2026. This comes as a net balance of 26% of surveyors in Scotland report that house prices rose over the past three months.

Scottish surveyor respondents are also optimistic about 2026 as a whole. A net balance of 62% expect prices to be higher in 12 months’ time and a net balance of 59% expect sales volumes to be higher by the end of 2026.

Commenting on the sales market, Lowrie Simpson, FRICS of L A Simpson Chartered Surveyors in Shetland, said: “December saw the expected seasonal slowdown in activity. Early indications for 2026 are positive though, with a healthy level of new Home Report instructions already in place.”

Greg Davidson, MRICS of Graham + Sibbald in Perth, added: “Interest rates and mortgage rates are relatively stable and with good availability of finance it is anticipated that the market will continue to perform reasonably well despite the continued political uncertainty.”

Commenting on the UK picture, RICS head of market research & analysis, Tarrant Parsons, commented: “The UK residential market remains in a prolonged soft patch, with December’s survey recording a sixth consecutive month of negative momentum in buyer enquiries. That said, there are tentative signs of a shift in sentiment beneath the surface.

“Near-term sales expectations have strengthened, and the twelve-month outlook has edged into more positive territory. The key test for 2026 will be whether borrowing costs ease on a sustained basis. If so, this could provide the catalyst needed to drive a recovery in buyer demand.”