These are the 10 least affordable areas in Scotland for first-time home buyers
Midlothian is the least affordable area to buy in Scotland.
By Katharine Hay
Published 3rd Sep 2020, 15:39 BST
Updated 4th Sep 2020, 06:51 BST
Scotland’s most expensive regions for first-time buyers have been revealed in a recent study.
The data, published by Bank of Scotland, looked at the average price of properties in certain areas and the house price to average earnings ratio.
Midlothian came out as the most expensive area to buy a property with City of Edinburgh and East Lothian falling closely behind.
The cost of a first home has risen 42 per cent in the last decade, with the average price of a first-time buyer property increasing from £108,774 in 2010, to £154,449 today with Scottish first-time buyer properties seeing a 4 per cent rise in the last year alone.
The number of first-time buyers in Scotland is at a seven-year low falling over a third (35 per cent) since last year, as many reconsider their options in the wake of the pandemic, according to the study.
Midlothian came out as the most expensive area to buy a property with City of Edinburgh and East Lothian falling closely behind.
5. Highlands
Up in the Highlands properties average at £154,536 with the house price to average earnings ratio at 5.6 making it one of the least affordable regions in Scotland for first-time buyers. Picture: The Highlands Photo: JPI Media
East Dunbartonshire properties average at £207,037 and the house price to average earnings ratio stands at 4.6 making it the sixth least affordable region in the country for first-time buyers. Picture: East Dunbartonshire Photo: JPI Media
First-time buyers will find Dundee is one of the least affordable places in Scotland where properties average at £139,109 and the housing price to average earnings ratio is 4.6. Picture: Dundee city Photo: JPI Media
The average price of a home in the Scottish Borders stands at £145,549 and the house price to average earnings ratio is 4.5 making the region the seventh least affordable in the country. Picture: Peebles, Scottish Borders Photo: JPI Media