A new report has revealed that owner-occupation in Scotland has reached an all-time high…

Published 30th May 2008

According to the report from the Bank of Scotland, the number of owner-occupiers in Scotland rose by 125,000 between 2001 and 2006 from 1.403m to 1.528m. The report also found that:

* The 8.9% increase in the level of owner-occupation in Scotland over the five years was the biggest percentage rise in the UK, nearly treble the UK rise of 3.1%.

* The owner-occupation rate in Scotland is 66% compared with a UK average of 70%.

* The rate of owner-occupation in Scotland has more than doubled since 1971 when it stood at 31%. The UK rate increased from 51% to 70% over the same period.

* East Renfrewshire has the highest owner-occupation rate in Scotland with 86% of households owning their own home.

* There was a 54,000 (41%) increase in the number of private renters in Scotland between 2001 and 2006. The proportion of households in Scotland living in private rented accommodation has risen from 6% in 2001 to 8% in 2006, partly reversing the long-term trend decline.

Martin Ellis, chief economist at Bank of Scotland, said: "Owner-occupation has continued to rise in Scotland over the past five years. As a result owner-occupation rates are now close to the UK average.

“Increasing affordability difficulties for potential first time buyers have contributed to a slowing in the rate of growth in Scottish owner-occupation, leading to a fall in the number of Scottish householders with mortgages."

Source: ' 'themovechannel' '

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