In its annual Residential Policy Paper, the RICS highlighted the success of Help to Buy which it says has stimulated the buying and building markets to an extent but added that the government should refocus its effort to ensure a consistent and reliable supply of homes.

The report calls for the creation of wider opportunities from the Scottish Government for investment in new and regenerated housing production, particularly in the self-build / co-ownership sub-sectors, empty homes and SME builders.

The report states: “At present, small builders are struggling as there is a lack of equity and a general reluctance by banks to lend in the sector. Furthermore, with larger builders now bidding for smaller, or even individual sites, SMEs continue to be at risk of being squeezed out of their traditional target markets: self- build, which accounts for 10% of new builds, and the reuse of empty homes – of which there are 27,000.

“Whilst the self-build and empty home markets will not solve the housing crisis, they can both make considerable contributions to enhancing housing supply, and support community regeneration and the essential SME construction sector.”

According to RICS, capital put towards housing should not be seen as funding, but as an investment. This investment, it argues, would support building activity and accrue returns directly, by increased outputs, and indirectly, through tax receipts (LBTT and local taxation), and wider economic growth opportunities.

The report described the Joint Housing Delivery Plan as an “ambitious” and “commendable” programme but added that the work will require a high level of commitment and funding from the Scottish Government if the challenging actions are to be achieved.

RICS also wants to see more City Deals managed by housing investment experts who have skills in markets and delivery processes for the remaining four cities in Scotland that have not yet received funding of this nature.

Meanwhile the RICS recommended that a feasibility study is undertaken into mandatory Home Reports, which were introduced in Scotland in 2008, being implemented in England, Wales and Northern Ireland.