Number of first time homebuyers rises by more than 20%

Buyers now need to fork out an average £43,500 for their deposit.

For many, the hope of buying their own home has remained a pipe dream for years but new figures may signal hope on the house-buying horizon.

The number of first-time house buyers in Scotland has risen by more than a fifth since 2023, according to the latest analysis by the Bank of Scotland – but only if you’ve amassed a savings pot.

The amount required for a deposit has also gone up, with people now having to save an average of £43,500 to secure their first home.

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