FTBs 'are younger in Scotland'

Posted: 10 Oct 2011 14:34:47 GMT

The youngest house buyers in Scotland are to be found in Midlothian.

The average age of first-time buyers (FTBs) in Scotland is lower than that recorded elsewhere in the UK.

This is according to new research carried out by Bank of Scotland, which revealed the typical FTB north of the border is 28 - one year beneath the UK norm.

In addition, it was shown that Midlothian is home to the nation's youngest home purchasers, with an average age of 27.

Other regions notable for a low FTB age include east Dunbartonshire, west Lothian, Clackmannanshire, Fife, Falkirk and north Lanarkshire.

Nitesh Patel, housing economist at Bank of Scotland - which is part of Lloyds Banking Group - said: "The variation in age between the youngest and oldest first buyers in Scotland is relatively low, just three years compared to almost a decade seen in England and Wales."

The industry figure explained this may be because house prices are lower in both relation to earnings and in absolute terms.
 

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