Good news for the Scottish housing market

According to the latest Quarterly Housing Statistics for Scotland, both the affordable housing supply and local authority right-to-buy sales have increased slightly when compared with the same period in the previous year.

In the 12 months to September 2015, a total of 16,152 new homes were completed. For the period up to September 2016, this had risen by 1% to 16,309 homes.

Scottish Government Housing Minister Kevin Stewart is pleased to note the stabilisation of the housing market, coupled with a 20% increase in affordable home approvals in 2016.

The 8,840 affordable homes approved in 2016 contained a mix of both social rental housing and home ownership properties. 

The Housing Minister has also just confirmed further Scottish Government funding for its Open Market Shared Equity (OMSE) scheme. This innovative scheme is aimed at helping both first-time buyers and priority sectors to buy a home (including the disabled; armed forces personnel and veterans; and the surviving partner of a member of the armed forces who has lost their life serving their country). The £70 million funding for 2017 / 2018 should help an extra 1,700 people step on to the property ladder.

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New home-owners in Alloa with then Housing Minister, Alex Neil and First Minister Nicola Sturgeon

Read further information on the OMSE Scheme here. And for Cailean's impartial advice on mortgages for first-time buyers, check this section of our website. We at Cailean Mortgages will search for your perfect mortgage so you're free to search for your perfect home.