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Scotland offers UK’s most affordable places to buy a first home


14 February 2025

 
  • Number of first-time buyers up +21% last year, compared to 2023.
  • First-time buyers make up over half (51%) of all home loans.
  • UK’s five most affordable areas for buying a first home are in Scotland.
  • First-time buyers on the Shetland Islands are the youngest in the UK, at 27 years old, on average.
  • New buyers putting down an average £43,537 deposit and typically paying £200,356 for their home.


The number of first-time buyers in Scotland rose to 32,620 last year, up +21% compared to 2023.Those starting out on the property market made up the majority (51%) of all home purchases (with a mortgage) last year.

According to the latest analysis from Bank of Scotland, those buying a first home put down an average deposit of £43,537 last year, up +8% from 2023 (+66% more than a decade ago). First-time buyers typically paid £200,356 for their first home, up 4% on the year before and £72,000 more expensive than ten years ago (+57%).

The average Scottish first-time buyer is 32 years old, a year younger than the UK average (33 years old). In fact, new buyers in Scotland’s Shetland Islands are the youngest across the UK, at 27 years old. 

 

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Isla Benzie, Head of Bank of Scotland Mortgages said: “Scotland continues to offer great appeal for those buying their first home, with some of the most affordable places in the UK, evidenced by last year’s increase in the number of people stepping onto the property ladder in the country.

“The challenges of saving for a big enough deposit and rising house prices remain, but it’s reassuring over half of all home loans were for first-time buyers.

“While the journey to homeownership can look daunting, there are lots of tools and schemes available to help.

“The best first step is to speak to a mortgage adviser or broker. By understanding what you need to save, and what's affordable, you can turn the dream of owning your own place into a reality.”
 

Affordability for first-time buyers

Compared to the rest of the UK, Scotland has some of the most affordable places for those buying a first home. Inverclyde in West-Central Scotland is the most affordable, as properties here are around 3.2 times the average salary (£41,300).

In contrast, Edinburgh - which also has one of the highest average house prices (£276,717) - is the least affordable in Scotland, with average property prices around 5.6 times the average salary (£49,077).

 

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