Despite research which suggests renting is now the norm for under-35s, there are still plenty of opportunities across Fife, Edinburgh and the Lothians for young people to become homeowners.
That’s the message from legal and property firm Pagan Osborne, which says some shrewd decisions can help young people onto the property ladder if they are discerning enough.
Karen Turner, the company’s property sales director for Fife and Edinburgh, said: “We’ve seen the Boomerang Generation, the Bank of Mum and Dad and, in some cases, grandparents helping out. But understandably most young people want to stand on their own two feet and many will have been saving already for a deposit.
“While the research from St Andrews University highlights an emerging gap between the housing aspirations of younger and older households, with careful consideration, astute decision-making and a keen eye for an attractive location, it is still possible for the younger generation to get onto the property ladder in a first home that doesn’t break the bank.
“By keeping below the £145,000 price threshold which means no Land and Buildings Transaction Tax is payable, and with a 5% deposit, a range of properties could be well within reach.”