Several of the UK’s largest mortgage lenders have significantly reduced interest rates this week, with some deals now available for under 4%, according to Moneyfacts.
The average selling price of property in Edinburgh, the Lothians, Fife and the Borders was £287,488 in June-August 2024, an annual increase of 2.3 per cent, ESPC reports.
Lloyds Banking Group is to make £2 billion of lending available to first-time buyers, increasing the amount prospective homeowners can borrow to up to five and a half times their income.
Demand for rental properties continues apace in Scotland’s Private Rental Sector as legislation to control rents in market hotspots continues through Parliament.
Scotland’s real estate sector attracted £770 million in investments in the first half of 2024, a 4% rise on the 10-year average and a 30% jump from the same period in 2023.
Glasgow has recorded the highest average annual price growth of new build apartments of the UK’s six biggest cities outside London, according to research from global property advisor JLL.
A comprehensive global overview of the empirical evidence on rent control policies has found that they produce significantly more negative consequences than benefits.
Given Scotland’s national housing crisis, more needs to be done to fast track planning and new Local Development Plans amid an “alarming” drop in housing completions and new planning consents, says Savills.
Scottish house prices saw a 4.3% year-on-year increase in June 2024, reaching an average of £192,000, and outpacing the UK average growth, according to Registers of Scotland.