The UK Government recently published a White Paper on the housing market in England, describing it as “broken”.
Mortgage affordability in quarter four (Q4) of 2016 for both first time buyers and home movers was lower in the Scotland than the rest of the UK, according to new research by Bank of Scotland.
There was a slight fall in the number of house sales in the UK in December 2016, according to the latest UK Residential Market Survey by RICS.
The number of first-time buyers in the UK rose by 7.3% in 2016, from 312,900 in 2015 to an estimated 335,750, according to the latest Halifax First-Time Buyer Review. This is apparently the highest level since the start of the financial crisis in 2007 (359,900).
There was a rise in the average price of a property in Scotland in October 2016, taking the average price to £143,131, the latest UK House Price Index (UK HPI) has revealed. This is an increase of 4% over the previous year, and an increase of 1% compared to September 2016.