Buying a home - Scottish Government support

Author: Kate Berry

PDF Published: Tuesday 18 Sep 2018 (SB 18-58)

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Overview
Report

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Overview
Report
- Executive Summary
- Home ownership in Scotland - background
  - Impact of the global financial crisis on home ownership
  - The importance of first time buyers in the housing market
  - Barriers to home ownership
- Government initiatives to support home ownership - background
  - Current Scottish Government initiatives
  - Summary table of Scottish Government shared equity schemes
- Low-Cost Initiative for First Time Buyers
  - LIFT planning and management
  - Numbers of affordable home ownership completions
  - Geographical pattern of affordable home ownership investment
  - Who buys homes under the LIFT schemes?
- Help to Buy (Scotland) Affordable New Build Scheme & Small Developers Scheme - Background
  - Help to Buy Sales - statistics
  - How much Help to Buy equity funding has been repaid to the Scottish Government?
  - Geographical pattern of Help to Buy sales
  - Help to Buy sales by local authority area
  - Impact of Help to Buy on the housing market
  - Help to Buy sales as a proportion of new build sales
  - Which builders do Help to Buy purchasers buy from?
  - Who buys homes under the Help to Buy scheme?
- Comment on home ownership schemes
  - GB comment on impact of home ownership schemes
Sources

Image: The proportion of younger owner occupiers has fallen since 1999

Image: Figure 2: Private sector new build completions in Scotland 1999/00 to 2016/17

Image: Figure 3: Number of residential house sales in Scotland 2004/05 to 2017/18

Image: Mortgage cost-to-income ratios for first time buyers have fallen since 2007

Image: The average house price in Scotland is around £176k (May 2018).

Image: Number of first time buyers have increased in recent years

Image: The average first time buyer deposit is £18,900.

Image: This diagram shows how a shared equity stake would work on a property costing £170k.

Image: Diagram of the Scottish Government's More Homes Budget 2018/19

Image: A quarter of all completions funded through the Scottish Government Affordable Housing Supply Programme are for affordable home ownership

Image: Map 1: Help to Buy sales by local authority area

Image: Map 2: Help to buy sales as a proportion of total sales 2017/18

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