Scotland’s most affordable areas to purchase a property for first-time buyers have been revealed in a recent study.
Among those regions considered best for the more frugal house hunters include Ayrshire, Renfrewshire and West Dunbartonshire.
The study, done by Bank of Scotland, revealed the number of first-time buyers in Scotland is at a seven-year low, falling more than a third (35 per cent) since last year, as many reconsider their options in the wake of the pandemic.
It also showed that in the first six months of this year there were 10,158 first-time buyers, compared to 15,570 over the same period last year.
This is the lowest number of buyers taking their first step onto the property ladder since 2013.
Here are the ten most affordable areas to purchase a home this year:
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1. North Ayrshire
According to the Bank of Scotland study, North Ayrshire is the most affordable region for first time buyers to purchase a home in Scotland where properties cost an average of £104,845. The house price to average earnings ratio is 3.2. Picture: Largs in North Ayrshire Photo: Shutterstock
2. East Ayrshire
East Ayrshire, pictured, is considered the second most affordable area in Scotland for purchasing a property for first time buyers where properties average at £108,083. The house price to average earnings ratio is 3.3. Photo: JPI Media
3. South Ayrshire
This region is considered one of the cheapest areas to buy a property in Scotland where the average price for a property this year costs £126,292. The house price to average earnings ratio is 3.6. Picture: Largs, South Ayrshire Photo: JPI Media
4. Renfrewshire
In Renfrewshire the average cost of a property for first time buyers averages at £133,306 making it the fourth most affordable place in Scotland. The house price to average earnings ratio is 3.6. Picture: Erskine, Renfrewshire. Photo: Renfrewshire council