'I've accepted I may never be able to buy my own flat in Edinburgh'

Young first time-buyers in Edinburgh say they’re struggling now more than ever to get on the property ladder.

At the beginning of this year, people were spending around a quarter of a million pounds for their first home in the city according to figures from the Office for National Statistics.

Laura Cuthill, 26, works full-time and says she may never be able to buy a property in the city.

She said: “It’s something I think about all the time, but I’ve kind of accepted that it’s something that may never happen.

“There’s been lots of videos showing how much inflation has risen over time, it’s absolutely insane what my grandparents could buy in comparison to me trying to get on the property ladder now.

“It is something I’d really like. If I moved somewhere cheaper then maybe I could save up. But I love living in Edinburgh so much that it’s something I’m willing to deal with so that I can keep living here.

Laura says she has accepted she may never afford her own home in Edinburgh STV News

“I don’t want to move somewhere else just to save up money to get on the property ladder.”

According to ONS figures, first-time buyers spent on average around 8% more on their first home in Edinburgh at the beginning of this year compared to last.

Mortgage advisor, Stephen Babatunde, says it’s a challenging market for young potential buyers.

Stephen said: “It’s just a well sought after city I would say, which attracts a lot of interested in home buyers. Unfortunately, not many of our new, young, first-time buyers can even compete because the properties are being sold well above the valuation report.

“This year alone, I can count in one hand how many single or even couple, young couples that are looking to take on a mortgage because the salary doesn’t go far enough.”

Young first-time buyers struggling to afford flats in Edinburgh STV News

Housing, Homelessness and Fair Work Convener Lezley Marion Cameron said: “We declared a housing emergency in response to mounting pressures on our city’s housing market – from rising homelessness to unaffordable housing costs. In tackling this crisis, we’re focused on making it easier to access housing and maximising the availability of homes across Edinburgh.

“Our Local Housing Strategy outlines our vision for the delivery of housing across all tenures and will consider current and future housing need and demand. The aim is to ensure everyone can secure a warm, safe, and comfortable home that suits their needs.

“We’re offering stakeholders an opportunity to share their feedback on the strategy so we can respond to the issues that matter most to our residents. I’d encourage them to share their views on our website before the consultation closes on April 22 so we can work together to create a housing system that is inclusive and sustainable for the long term.”