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Realistbear

Scotland Reports That F T Bs Are Lowest Level Ever

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http://business.scotsman.com/finance.cfm?id=900402006

Young first-time buyers squeezed out of market

ALASTAIR JAMIESON

CONSUMER AFFAIRS CORRESPONDENT

BRITONS in their twenties are being squeezed out of the property market, with fewer than
one in ten
now earning enough to buy a first home, according to a new report.
Nationwide Building Society says the affordability of starter homes has "
deteriorated significantly
" for young first-time buyers as house prices have increased and wages have failed to keep pace. Whereas ten years ago, 30 per cent of new homeowners were aged between 20 and 24, that figure had now dropped to 20 per cent.

Despite house prices dropping in the last Quarter (some more than 5%) in Scotland:

http://news.bbc.co.uk/1/shared/spl/hi/in_d...ml/region12.stm

Edinburgh, City Of 176,526 1.1%

East Renfrewshire 168,132 -8.8% -5.2% N/A

East Dunbartonshire 160,331 -8.6% -1.5% N/A

East Lothian 152,826 -7.5%

Stirling 144,367 -4.0% -0.1% N/A

Perth And Kinross 143,700 2.6%

South Ayrshire 141,168 8%

Midlothian 134,238 -0.5%

Scottish Borders 130,622 -7.9%

Aberdeenshire 127,195 -3.4%

Highland 125,711 -3.4%

Glasgow City 124,370 -0.6%

Argyll And Bute 119,923 -5.9%

West Lothian 119,177 3.9%

Angus 114,857 2.2%

Aberdeen City 114,621 -1.9%

Dumfries And Galloway 113,385 -6.2%

South Lanarkshire 113,196 -1.4%

Renfrewshire 111,333 1.3%

Inverclyde 111,157 2.8%

Fife 106,450 -5.0%

Falkirk 102,155 2.8%

Dundee City 101,685 4.9%

Clackmannanshire 100,282 -6.8%

North Ayrshire 98,127 -1.9%

North Lanarkshire 96,363 1.7%

East Ayrshire 92,883 -10.3%

Orkney Islands 88,463 -10.3%

West Dunbartonshire 88,299 -7.4%

Shetland Islands 83,663 4.4%

Eilean Siar 75,640 -8.2% -2.2% N/A

They obviously need to drop some more despite the arrival of the savious of HPI--The Fabulous Returners (drum roll please)

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As someone who lives in one of those areas referred to as having had a price drop in the last quarter, I'd like to know where those prices drops were.

From my own experience in my area prices are still rising and the market is still very busy. Three relatives have been invovled in purchases and sale in the last few months and all transactions suggest price rises since the start of the year.

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Whereas ten years ago, 30 per cent of new homeowners were aged between 20 and 24, that figure had now dropped to 20 per cent.

I'm amazed even 20% of 20 to 24 year olds have the income / deposit to be a FTB

Edited by tonification

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  • 302 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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