First-time buyers back in the market

editorial image

FIFE is the 10th most affordable area in Scotland for first-time home buyers on average earnings.

Latest figures from the Bank of Scotland said that the number of first-time buyers had risen by a fifth to around 9000 in the first half of the year – but was still less than half the number in the same period 10 years ago.

The review also found that the proportion of Scottish areas considered affordable for first-time buyers had risen to 93 per cent, its highest level since 2005, more than double the proportion at the peak of the housing market in 2007.

The north east of England was the only region in the UK in which all areas were affordable for first-time buyers while, in contrast, London was the only region with no affordable areas.