AN area which includes some of the most popular and affluent suburbs of Glasgow has been named as the UK’s most affordable housing for first-time buyers.
East Dunbartonshire, which takes in Bearsden, Milngavie and Bishopbriggs, came out top of the list compiled by the Bank of Scotland.
It said that the average property for a first-time buyer in the local authority cost £97,089 – 2.6 times the average gross earnings of those living in the area.
Government statistics show that mean earnings in East Dunbartonshire are £37,716 on average, around £5,000 more that the Scottish average of £32,472.
Nicola Noble, mortgages director at Bank of Scotland, said: “First-time buyers are paying lower than Scottish average prices in East Dunbartonshire but their earnings are around £5,000 per annum higher which makes affordability relatively good.”
Five of the UK’s 10 most affordable local authorities for first-time buyers are in Scotland, according to the survey.
They include East Renfrewshire – home to suburbs such as Giffnock, Newton Mearns and Netherlee – West Dunbartonshire, Stirling and North Lanarkshire.
The bank also found that the average deposit being put down for a home being put down by a first-time buyer has more than doubled since 2007.
Someone getting on the property ladder in May 2016 will need to put down £33,960 typically as a deposit – compared with an average deposit size of only £16,400 in 2007.
Ms Noble said: “Although many potential first-time buyers are facing escalating house prices and deposit sizes, Record low mortgage rates continue to make buying seem a more attractive option than renting.”
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