Scottish buyers keen to get on the housing ladder

Posted: 10 Jun 2008 13:12:26 GMT

The number of people in Scotland wanting to get on the housing ladder will continue to rise, an industry expert has said.

The number of people in Scotland wanting to get on the housing ladder will continue to rise, an industry expert has said.

Simon Rettie, managing director at estate agent Rettie and Co, suggested that first-time buyers are as keen to purchase property in the current market, as existing homeowners.

Mr Rettie said that as long as "people's desire and hope to own their own home remains then, provided they can find the necessary finance and credit to facilitate that", they will go ahead and purchase property.

According to a report by the Bank of Scotland, the number of owner-occupiers in Scotland has more than doubled since 1971, up from 31 per cent to 66 per cent.

Whilst house prices in Scotland experienced a 13.1 per cent increase in 2007, the average value of a Scottish house is still 26 per cent less (£144,897) than the UK average of £197,071.

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