‘Wait and see attitude adopted by first-time buyers’

Househunters who want to buy a house in Scotland may be interested in the latest statement from the National Association of Estate Agents (NAEA).

The organisation has claimed that first-time buyers in the UK are finding the current property climate "difficult", since the market share for this demographic decreased in March.

However, Scottish first-time buyers may not have the same level of difficulty since the Scottish housing market remains robust in the face of the credit crunch.

This is according to the most recent Halifax House Price Index, which indicated that Scotland’s property value had increased by 5.3 per cent compared to the previous year.

Property availability increased throughout March, the NAEA claimed, meaning that more choice is available to househunters, including people looking to buy a house in Scotland.

Stewart Lilly, president of the NAEA, said: "There are indications that first-time buyers have dropped their market share once again showing a ‘wait and see’ attitude has been adopted.

"Over the next few months it is imperative that the shackles are released on the mortgage market so consumer confidence can be rebuilt, allowing the market to stabilise."