Glasgow suburbs offer most affordable housing

AN area which includes some of the most popular and affluent suburbs of Glasgow has been named as the UK’s most affordable housing for firsttime buyers.

East Dunbartonshire, which takes in Bearsden, Milngavie and Bishopbriggs, came out top of the list compiled by the Bank of Scotland.

It said that the average property for a first-time buyer in the local authority cost £97,089–2.6 times the average gross earnings of those living in the area.

Government statistics show that mean earnings in East Dunbartonshire are £37,716, around £5,000 more that the Scottish average of £32,472.

Nicola Noble, mortgages director at Bank of Scotland, said: “First-time buyers are paying lower than Scottish average prices in East Dunbartonshire but their earnings are around £5,000 higher which makes affordability relatively good.”

Five of the UK’s 10 most affordable local authorities for first-time buyers are in Scotland, according to the survey.

They include East Renfrewshire – home to suburbs such as Giffnock and Netherlee – West Dunbartonshire, Stirling and North Lanarkshire.

The bank also found that the average deposit being put down by a first-time buyer has more than doubled since 2007.

Someone getting on the property ladder in May 2016 will need to put down £33,960 typically as a deposit – compared with only £16,400 in 2007.

Ms Noble said: “Record low mortgage rates continue to make buying seem a more attractive option than renting.”