Responding to latest UK Finance data showing first-time buyer levels at their highest for a decade, Karen Campbell, Director of Policy at Homes for Scotland, which represents organisations delivering the majority of the country’s homes, said:
“First Time Buyers are the lifeblood of the housing market, triggering as they do a number of other transactions further up the property ladder so it is encouraging to see their numbers increasing. However, they still face a huge challenge in terms of the size of deposit they have to find. And this is where the new build sector can provide vital help since those eligible for the Scottish Government’s hugely successful Help to Buy scheme could purchase a new home up to £200,000 with just a five per cent deposit.
“With the majority of Scots aspiring to own their own home and increasing housing supply the single most effective way to address affordability concerns, we hope the Scottish Government will listen to our call to extend the Help to Buy Scheme beyond 2018/19. Not only will this allow more people to benefit from this support, relieving pressure on other sectors, it will provide builders with the confidence and certainty they need to invest in delivering more of the homes our country needs.”