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scotland: first time buyers at 7 year low


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been a while since so many that wanted to buy a home could afford it without either very decent job or parents helping/dying. so even though the first time buyers keep dropping there is no reason prices will fall as the slack is and has for years been taking up by btl. this is the real tradgedy of our society, the loss of social mobility 

 

https://www.bbc.co.uk/news/uk-scotland-scotland-business-54010355

Edited by jimmy2x3
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1 hour ago, jimmy2x3 said:

been a while since so many that wanted to buy a home could afford it without either very decent job or parents helping/dying. so even though the first time buyers keep dropping there is no reason prices will fall as the slack is and has for years been taking up by btl. this is the real tradgedy of our society, the loss of social mobility 

 

https://www.bbc.co.uk/news/uk-scotland-scotland-business-54010355

Statistical quirk based on the fact that very few people bought a house in Scotland in April, May or June. The fact the number is 2/3rds of last year is more surprising than that it's down.

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1 hour ago, MARTINX9 said:

Average deposit required for an FTB in Scotland is £31,000 - speaks volumes as to the problem! How do most people save that sum up if paying rent.

£31,000 is a huge amount of money to save if working and renting........they no longer can save so are therefore reliant on gifts......the market without new entrants with gifts is a stagnant market.;)

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Pandemic driving 'exceptional interest' in Scots homes

Who needs first time buyers in certain areas of Scotland when there are so many wanting to move there from elsewhere!

Not good for the locals though...

Islanders fear 'economic clearance' over house prices

Anecdotally its boom time in places like Inverness.  Know of one house that sold last week after just 48 hours on the market, they got 15% over the home report value of £340k.

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9 minutes ago, Ignorantbliss said:

Pandemic driving 'exceptional interest' in Scots homes

Who needs first time buyers in certain areas of Scotland when there are so many wanting to move there from elsewhere!

Not good for the locals though...

Islanders fear 'economic clearance' over house prices

Anecdotally its boom time in places like Inverness.  Know of one house that sold last week after just 48 hours on the market, they got 15% over the home report value of £340k.

Crazy times. It's really going to hurt being £70000+ in negative equity within 12 months

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  • 415 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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