House price falls said to be great for buyers

Perth is the best place in the UK to get a foot on the housing ladder, according to the council.

It has hailed tumbling house prices — recent research showed prices were down 5.3% in the city — as good for house hunters.

Although property prices in the Perth and Kinross region as a whole saw a 6.1% year-on-year increase, the city of Perth itself topped the UK list for the weakest growth in average house prices.

This was attributed to more new houses being built at the lower end of the market in Perth to serve first-time buyers as well as older people choosing to downsize.

The Halifax survey which revealed the price of the average house in Perth was £180,687, a reduction of £10,126, is part of a wider picture, says the council, which makes the city an attractive place to find a home.

The council says it is committed to building more quality affordable housing, including social rent, shared equity and low cost home ownership.

It also has a multi-million-pound building programme. The council claims more than 500 new homes have been build across Perth and Kinross since 2012.

The local authority offers shared equity homes on a discounted cost basis with Muir Homes at Castleton, Auchterarder and with Persimmon Homes at Weavers Loan, Kinross.

It will also shortly be marketing new shared equity homes at Moyness, Blairgowrie, as part of a Scottish Government initiative which offers initial purchase from 60% of the property valuation.

Housing and communities committee convener Councillor Peter Barrett said: “This is an excellent way to give people access to the housing they need at an affordable price.

“Under the shared equity schemes, priority is generally given to first-time buyers.

“However, other priority categories include people who have experienced a significant change in household circumstances, those currently serving with HM Forces and veterans, people who own a house which no longer suits their needs.”

(Shared equity) is an excellent way to give people access to the housing they need at an affordable price. COUNCILLOR PETER BARRETT