Scotland homebuyer activity busiest in a decade

Ryan Bembridge

August 23, 2017

There were more homebuyers in Scotland in the second quarter of 2017 than any other quarter since 2007, UK Finance figures show.

Mortgage lending to homebuyers increased by a third (35%) in the second quarter of 2017 from the first by volume.

Carol Anderson, chair of the UK Finance Scotland Mortgage Committee, said: “First-time buyers have been a key driver of this, with two years of year-on-year growth.

The CML on Scotland’s housing market vs the rest of the UK

“With an economic climate of low interest rates, government schemes and competitive mortgage deals, the Scottish market is in a good position and open to business going forward.”

There were similar jumps in lending to first-time buyers (29%) and homemovers (39%), though remortgage activity fell by 7% from the first quarter.

 

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