Whilst welcoming the Chancellor’s introduction of a new Help to Buy ISA to assist those saving for their first property, Scotland’s home building industry warned it would be of little use north of the border unless there is help to build the homes that are needed in the first place.

With half a million homes required in Scotland over the next 20 years but current annual production levels pointing to a massive shortfall with less than 15,000 completed last year,  Homes for Scotland Chief Executive Philip Hogg (right) said:

“The Chancellor has again delivered welcome support for home buyers with this new Help to Buy ISA but unless urgent action is taken by the Scottish Government to address the housing crisis here it could be of little use.

“Whilst there have been big jumps in the number of new homes started in England as a result of radical measures on planning and the introduction and subsequent extension of the Help to Buy shared equity scheme, the picture in Scotland is very different.

"Although the Scottish Government’s Help to Buy shared equity scheme has been an unqualified success and a major boost to the construction of much needed new homes, we face its effective end in just a few months as funding has not reflected need and demand, leaving Scotland’s buyers and builders with an uncertain future.  

“As Westminster parties set ambitious targets to increase building ahead of the general election, Scotland lags behind.

“The Scottish Government must get to grips with Scotland’s housing crisis now and take the bold action which is necessary to ensure we have enough homes in the right locations to house our growing population.”