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NewsArticle-22-08-2011

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Home builders respond to Lloyds report of falling prices

Responding to figures from Lloyds TSB which show overall Scottish house prices fell 3.7% in the last quarter, Jonathan Fair, Chief Executive of home building industry body Homes for Scotland (right), said:

“The new home market is still undeniably tough but we believe we are beginning to see signs of recovery, albeit from a very low base. The recent announcement from CML that June saw the highest number of mortgages taken out by first-time buyers in 10 months is therefore encouraging in this respect. Whatever the reason, people still need to move and so the base demand for new homes has not abated. Lower prices over the past three years have improved affordability across the board but, whilst mortgage lending does remain tight, importantly those looking to buy a new build home have access to a range of assistance measures simply not available in the secondhand market.”

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