New development 'may appeal to Edinburgh's first-time buyers'

Scottish first-time buyers looking to buy a house in Edinburgh may be interested to learn of a new development close to the city.

Redrow, a housebuilding firm, has highlighted the fact that Scottish first-time buyers need not put their plans on hold as a result of the ongoing economic slowdown, due to its range of two-bedroom apartments.

The company has offered to pay the five per cent deposit required, as well as stamp duty and legal costs for its Optima development off Ferry Road.

Diana Newton, sales director for Redrow Homes’ Scottish property division, said: "According to … Abbey, two-thirds of would-be first-time buyers have put their plans on hold this year because of financial uncertainty, but that doesn’t have to be the case.

"Redrow can help to ease the burden at what can be a very expensive time, with this fantastic package."

The Halifax House Price Index recently revealed that the Scottish market remained strong, with a 5.3 per cent increase compared to 2007, which may be welcome news to those wishing to buy a house in Edinburgh.