Scots looking to buy their first home face sky-high deposits and house prices, a new report has found.
An average house was priced at an eye-watering £189,428 last year, which may explain why the number of first-time buyers dropped 11 percent following 2021's record high. Despite this, those buying their first house still make up half of all home loans. The research additionally revealed that the average age of buyers entering the Scottish housing market is 31.
The Bank of Scotland compared the average earnings of £37,910 to the average first-time buyer house price in the area, which is £103,957.
Source: News Formal (newsformal.com)
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