Number of Scottish first-time buyers more than doubles in a decade
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The number of first-time buyers in Scotland has grown by more than 50 per cent in a decade, according to new research.
Figures from the Bank of Scotland show there were 34,519 in 2018, compared with 22,100 in 2008.
First-time buyers were found to make up around half of all house purchases with a mortgage in Scotland, up from 37 per cent a decade ago.
The average deposit put down by a first-time buyer in Scotland was 15 per cent in 2008, jumping to 25 per cent in 2009. Last year the average deposit dropped to 14 per cent, although property prices have continued to increase.
The £19,952 average deposit put down on a first home in Scotland is just over half of the UK-wide average of £33,352.
Two-bedroom properties have been the first-time buyer’s usual home of choice in Scotland in the past decade, making up more than four in ten mortgages for first homes last year.
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