Home affordability in Scottish cities is on average, now at its worst level since 2009.

March 6, 2017

Recent press release from the Bank of Scotland headlined ‘Home affordability deteriorates for fourth year in Scotland’s cities’

According to the latest Bank of Scotland Affordable Cities review, home affordability in Scottish cities is, on average, now at its worst level since 2009 and is slightly worse than in Scotland as whole.

Graham Blair, Mortgage Director at Bank of Scotland said:

“Homebuyers in Scotland’s cities have seen affordability levels worsen for the fourth consecutive year as average city house prices have continued to rise more steeply than average wage growth. However, the average price to earnings ratio in Scotland’s cities is 5.3 – lower than the UK cities average of 6.9.

“It’s little surprise that Edinburgh retains its title as Scotland’s least affordable city, with Aberdeen and Perth close behind. Stirling now takes the top spot as the UK’s most affordable city, as well as Scotland’s.”

Read the Bank of Scotland press release 25th February 2017 in full click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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