Scottish buyers and sellers are, without a doubt, benefitting from the Home Report says RICS Scotland as the scheme reaches its 1st anniversary.

RICS Scotland says sellers are using the Home Report as a marketing tool to attract potential purchasers and buyers are making the most of having upfront information about a property’s condition and valuation before they even step foot in the property.

And according to the research from RICS Scotland, chartered surveyors believe the Home Report has not hindered the recovery of the Scottish housing market. They say the recession is to blame for the slow down in transactions.

Ten of the biggest chartered surveyor firms in Scotland who between them carry out around 90% of all Home Reports were questioned about how the Home Report had affected the market over the past 12 months. All 10 firms agreed it was the recession that was to blame for the downturn in the housing market, not the Home Report.

Eighty percent said house prices had not been affected by the Home Report while 20% believed prices were higher.

Seven firms said the Home Report had had no impact on the number of homes going on the market for sale. Two firms thought it had enticed more sellers and just one said there were fewer sellers because of the Home Report.

Six out of the 10 surveying firms questioned thought the Home Report had attracted more speculative buyers to enquire about property for sale. One said there was no change and three were unable to answer as they did not provide an estate agency service.

The results almost mirror what chartered surveyors said in the same survey carried out in February 2009, three months after the Home Report was introduced.

Chartered surveyors are the only professionals by law able to carry out the single survey, valuation and energy report in the Home Report. Most properties being put on the market for sale require a Home Report by law, commissioned by and paid for by the seller. New builds are one of the few types of property which do not require a Home Report.

The average cost of a Home Report for an average property in average condition is around £430 plus vat. This is much lower than the £1000 suggested in 2008 by groups which were against the Home Report.

Graeme Hartley, director of RICS Scotland said: “There is no doubt in my mind that the Home Report has benefitted buyers and sellers over the past 12 months. The Home Report offers clarity to buyers and sellers about what the property is worth and what condition it is in right from the start and that’s what the Home Report set out to do. The Home Report was not intended to miraculously fix the housing market but as our survey of chartered surveyors shows, it has certainly not hindered the market.”