First-time buyers in Scotland will have to save for 30 months in order to raise enough money for a desposit, according to an index which monitors the housing market.
However, this figure is less than anywhere else in the UK, according to the Royal Bank of Scotland (RBS) Ability to Buy Index.
RBS found that the ability of first-time buyers in Scotland to purchase a property improved by 15% over the last year - five times better than the UK average of 3%.
It said the improvement was down to a number of factors including lower house prices and changes to income tax and National Insurance deductions.
Servicing a mortgage in Scotland also takes up a smaller proportion of income than in other parts of the UK, the bank said.
The improvement in Scots' ability to buy was recorded during the second quarter of 2012 and compared to the same period last year.
Fionnuala Earley, RBS Group UK consumer economist, said: "At last some good news for first-time buyers - the UK ability to buy improved by 3% in Q2 (quarter two) 2012 compared with a year earlier.
"But Scottish first-time buyers saw a massive 15% improvement.
"Changes to tax and National Insurance put £408 more cash per year in the average Scottish first-time buyer's pocket.
"This, along with a steep fall in Scottish first-time buyer house prices in Q2 2012, made it more affordable to get on to the housing ladder."
However, Ms Earley warned: "The rising cost of essentials continue to eat away at after-tax income and reduced the increase in income available to service a loan or save for a deposit to just £215.
"The extra cash available means it should now take Scottish first-time buyers 30 months to save a deposit, four months less time than it would have done in Q1 2012 and a shorter time than anywhere else in the UK."
To leave a comment, please sign in.