Edinburgh proves popular location for First Time Buyers, according to the latest data from newhomesf

The website, which lists ten new build developments located in and around Edinburgh city centre, has revealed a massive 63% of enquiries for new build properties in Scotland’s Capital were from First Time Buyers during Q1 2024, which is an increase on the 58% recorded in Q1 2023.

This demand comes despite the fact entry prices for new builds are nearly £5,000 higher in Edinburgh compared to the UK national property average of £284,950 [as of November 2023], with prices starting from £290,347.

Not only does this reinforce a clear and growing demand to get onto the property ladder despite volatile mortgage rates, but also cements Edinburgh as one of the top locations for new home buyers following its recognition as the best place to live in the UK in 2022.

Discussing this latest data, Vernon Pethard, Founder and Director of newhomesforsale.co.uk, said: “In working with housebuilders and estate agents in all regions of the UK, it’s clear to see which areas are seeing the most search demand – with Edinburgh becoming increasingly popular amongst First Time Buyers.

Despite entry costs for new builds being slightly higher than the average selling price of a property in Edinburgh, more and more First Time Buyers are attracted by the low maintenance and running costs that come hand in hand with a new build when compared to an older property – particularly amidst volatile utility costs.

Overall, although 2023 was a difficult year for the property market, search volume and demand still remained high, so I think 2024 will prove much more positive – with Edinburgh set to come out as one of the UK’s leading locations for the First Time Buyer market.”

Established in 1998, New Homes for Sale features over 2,400 developments from national house builders, housing associations and estate agents from across the UK and has established an unrivalled position within the new build sector.

For more information, visit: https://www.newhomesforsale.co.uk/new-homes/edinburgh-city/edinburgh/

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