First-time buyer sales rocket in Renfrewshire

Renfrewshire is proving to be one of the most popular areas for first-time buyers in Scotland, new research has revealed.

- EDEL KENEALY

First-time buyer sales in the county rocketed in 2024, according to official figures from the Office for National Statistics and the Financial Conduct Authority.

First-time home owners made up 13.43 per cent of households per 1,000 dwellings in the local authority area in that time-third only to Scotland's two biggest cities - with Edinburgh having a rate of 15.48 per cent and Glasgow 13.97 per cent.

In total, there were 30,631 first-time buyer sales in Scotland in 2024 - the highest number since 2021 which saw a record 34,525 first-time buyer sales.

To boost the housing market during the covid pandemic, the land and buildings transactions tax was cut to zero for sales up to £250,000 from July 2020 to April 2021.