Dundee most affordable city for first-time house buyers

Dundee is the most affordable city in Scotland for first-time house buyers, a survey has found.

Data company CACI has looked at the difference between the average sum needed to buy a property and the typical mortgage available.

House-hunters in Dundee are reckoned to have surplus of about £2,300 the size of mortgage that lenders are offering is more than needed.

That compares well to other parts of Scotland, especially Edinburgh, where first-time buyers find the maximum mortgage they are allowed is £84,000 less than the purchase price of an average home.

Eileen Matthew, head of property at Miller Hendry in Dundee, said: “Whilst the Scottish cash gaps are on average significantly less than many English regions in London, for example, the cash gap is an eye watering £308,000 the figures still make the potential of home ownership a far-off dream for many young house hunters.

“However, it is good news for prospective buyers in Dundee where their chances of being able to make the purchase are stronger.”