Scotland homebuyer activity busiest in a decade

Scotland has achieved the best quarter for homebuyers in a decade.

Scotland homebuyer activity busiest in a decade

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.

"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.