Owners of abandoned buildings and derelict land in Scotland would be forced to sell in an open auction under new proposals from the Scottish Land Commission (SLC). Background This year, the SLC began working with the Scottish Government to develop detailed proposals for a new compulsory sales order (CSO) mechanism. The proposals detail around 11,600…
As average rental prices surpass mortgage repayments, potential first-time buyers would be able to save themselves an average of £2,268 per year by purchasing a property rather than renting, according to research undertaken by Santander. How much are homeowners in Scotland saving on average compared to renting? Even though renting has historically been seen as…
A new tax relief came into force in Scotland on 30th June that will help first-time buyers purchase their first home. The commitment to introduce a first-time buyer Land and Buildings Transaction Tax (LBTT) relief was announced in the 18/19 draft budget. According to Scottish Government figures, around 80% of first-time buyers will pay no…
New research from M&S Bank has found that buying with multiple friends or siblings is becoming an increasingly popular option for young, aspiring homeowners. Around 60% of those aged 18-35 said they would consider taking out a mortgage as a group to make home ownership a reality, compared to 26% of people aged over 36….
There has been a significant rise in the average price of flats in the UK over the last five years, with average prices rising from £157,061 in 2013 to £232,135 in 2018. This is equivalent to £1,252 per month, research by Halifax has revealed. Flats currently account for around 15% of all home sales, while…
A new study has found evidence of a continued slowdown in the UK housing market, with buyer demand falling for the twelfth month in a row. According to the RICS UK Residential Market Survey for March 2018, interest from would-be buyers has continued to wane, with 17% more respondents seeing a fall rather than rise…
The latest House Price Index from Nationwide has revealed that annual UK house price growth slowed down in February this year, falling from 3.2% in January to 2.2%. Average house prices also fell by 0.3% over the month. The average price in February 2018 stood at £210,402, which is a slight fall over the previous…
The latest House Price Index from Halifax has revealed that house prices in the last three months to January were 2.2% higher than in the same three months a year earlier, although the annual change in January was lower than in December (2.7%). Other key statistics contained in the report include: House prices remained unchanged…
Scotland’s most expensive street is once again to be found in St Andrews, new research has revealed. According to Bank of Scotland, Golf Place, which is a short walk from the famous Old Course, has an average house price of £2,179,000. However, Edinburgh still has the highest number of expensive streets in Scotland. Aberdeen now…
New data from UK Finance has given an interesting insight into mortgage activity in Scotland. The data shows that in the third quarter of 2017 in Scotland: Home buyers borrowed £2.55 billion, up 1% quarter-on-quarter and 15% year-on-year. They took out 18,900 loans, the same as in the previous quarter but 11% more than in…
