Young and Little Hope of a Home

YOUNG Scots will have to wait until they are nearly 30 and earning more than £10,000 over the average wage to get their foot on the property ladder, according to  research.

Figures show that while average Scottish salaries have stayed static at around £23,000 a year in the past 10 years, the typical first-time buyer’s earnings have risen from £28,685 to £33,873 over the same period.

Graeme Brown, director of Shelter Scotland, added: “These statistics once again show Scotland’s broken housing system where young people struggle to get a home.

“At the heart of the problem is demand for homes outstripping supply. To tackle the problem, we need a huge injection of new properties of all tenures – but especially homes for social rent – to reduce inflationary pressures and make a fairer housing system for all.”

Well-off families are using a government scheme that provides tens of thousands of pounds to help people get on to the property ladder.  The Scottish Government has helped out thousands of buyers since it introduced its Help to Buy scheme, but figures produced last year showed that more than one in three of those were from households where earnings were more than £50,000. Dozens of families with six-figure earnings also benefited from state aid for their new home.