Scotland bemoans end of H2B

Following the early closure of the Help to Buy Scotland scheme, which helped those looking to buy new homes up to £250,000 overcome the difficulties associated with large deposits, Homes for Scotland said the fourth consecutive quarterly fall in first-time buyers made for "disappointing reading indeed".

The reaction follows Council of Mortgage Lender figures for the first quarter of 2015 highlighting the a 23% drop compared to the last quarter of 2014 and a 7% drop on the same period a year ago.

Karen Campbell, director of policy at Homes for Scotland, said: "Coming just a day after the early closure of the Help to Buy (Scotland) scheme which successfully supported 5,000 sales, they underscore the need for continuing Scottish government support.

“They also emphasise the significant disadvantage that buyers and builders in Scotland now face compared to elsewhere in Britain with both England and Wales extending their schemes to not only meet the obvious demand that exists but also facilitate the building of much needed new homes with all the wide-ranging social, economic and environmental benefits this brings.

“It is therefore imperative that the Scottish government gives a clear and early signal of its intentions on the matter if Scotland is to avoid being left in housing limbo.”