First-time buyers having to dig deeper to climb up property ladder

Figures from the latest UK House Price Index show significant increases in the average cost of homes in both Renfrewshire and East Renfrewshire for those buying for the first time.

In Renfrewshire, the average price rose by 3.2 per cent, to £92,345, over the past year.

And the increase has been even steeper in East Renfrewshire, where it has soared by 5.9 per cent to £117,556.

Iain Nicolson, leader of Renfrewshire Council, said he is keen to attract more first-time buyers to the area.

He added: “There is a lot going on to boost housing options and also drive forward the regeneration which is making the area a more attractive place in which to invest, work and live in.

“Our local plan identifies significant areas for new housing development in addition to promoting affordable housing.

“Renfrewshire starts with the advantages of strong transport links, well-established communities, historic towns and villages and some outstanding countryside - and we are maximising their potential further.

“Overall, Renfrewshire is building on its strengths and putting in place increased opportunities for new and existing residents.”

East Renfrewshire MP Paul Masterton said much is being done to help first-time buyers get on the property ladder.

He added: “There are UK and Scottish Government schemes in place to support first-time buyers, with shared equity schemes, Help to Buy ISAs and various other opportunities.

“As a father to two young children, I am committed to seeing what more can be done to assist those who cannot rely on the ‘Bank of Mum and Dad’ or an inheritance to pay for that all important deposit.”

The report also highlighted that the average house price in East Renfrewshire has risen by more than £10,000 in the past year.

Since April 2016, prices have jumped from £195,202 to £206,463 - an increase of 5.8 per cent.

In Renfrewshire, average prices have risen by 3.8 per cent year on year, from £108,397 to £112,553.