Good news for first-time buyers in Scotland

18-May-2010

Published by Helen Adams

Potential first-time buyers north of the border have been boosted by news that the Scottish housing market is on the road to recovery.

The latest Scottish House Price Monitor, compiled by Lloyds TSB Scotland, shows in the three months to April 30th, the average value of residential property in the country rose by 0.7 per cent.

Rising house prices - usually a sign of an improving market with more deals being completed - could be good news for first-time buyers as property availability surges.

Indeed, in some spots growth is substantial, such as in Dundee where the rise is recorded as 10.7 per cent.

"Consumer confidence continues to recover from the low at the end of 2008," explains Donald McRae, chief economist of Lloyds Banking Group Scotland.

"The level of mortgage availability including for first-time buyers has increased while the cost of borrowing remains low for many mortgage holders," he adds.

How to buy a house from finding your first property, first time buyer mortgages, mortgage advice, shared equity, shared ownership, joint ownership, part buy part rent and HomeBuy. All a first time buyer could need as well as first time buyer news at FirstRungNow.com.

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