Home affordability in Scottish cities hits eight year high
31 March 2012
Home affordability for city dwellers in Scotland is at its most favourable in nearly a decade, according to the Bank of Scotland Affordable Cities Review.
Nitesh Patel, housing economist at Bank of Scotland, commented:
"The improvement in housing affordability within many of our major urban conurbations has been significant during the past few years and reflects the decline in house prices over the period. Looking forward, the marked improvement in city affordability is likely to help support demand for those able to enter the housing market. Much of this benefit, however, maybe offset by the continuing difficulties many households face in raising a deposit and uncertainty over the outlook for the economy in Scotland."