|
Desire for homeownership unabated in Scotland
11 June 2008 10:30
Scottish first-time buyers remain keen to possess their own homes despite the credit crunch, a local property agency has claimed, although existing owners are more cautious.
Recent figures from the Bank of Scotland have revealed that the number of owner-occupiers in Scotland rose by 8.9 per cent from 2001 to 1.53 million in 2006, meaning that they accounted for almost two thirds of all Scottish households.
Rettie & Co.'s managing director Simon Rettie has now forecast that this trend will continue, given the relatively low rate of homeownership in the region and the continuing desire among Scots to own their own homes.
However, he recognised that the credit crunch may still have an effect on the Scottish housing market, warning that prices could fall even in the more preferred areas as people struggle to obtain the necessary finance to move up the property ladder.
Mr Rettie also predicted that the number of outright homeowners in Scotland would 'take a break', as, in the face of rapid changes in the market, many people will opt to wait and take stock of what is happening before making any decisions.
|
