More loans have been advanced to first time buyers in Scotland this quarter than in any other quarter since 2007. The sector borrowed £940 million in the period, in 8,600 loans. The number of loans is up 4% quarter on quarter and 5% year on year. By contrast, home movers made 8,500 loans, up 6% quarter on quarter but down 12% year on year. Affordability in Scotland is much better than the rest of the country, with the typical amount borrowed in the third quarter at a round £100,000 compared to £134,900 in the UK overall.

Key Takeaways:

• First time buyers are driving the property market in Scotland with more loans advance to them in the third quarter of 2016 than any quarter since 2007.
• The typical average household income of a first time buyers increased slightly from £33,600 to £33,700.
• The typical average household income of a first time buyers increased slightly from £33,600 to £33,700 in the quarter.

“Home movers borrowed £1.3 billion, up 6% quarter on quarter but down 11% compared to a year ago.”

https://www.propertywire.com/news/europe/first-time-buyers-scotland-borrow-third-quarter-2016/