Some more highlights from the Local Housing Strategy.

Home ownership for the first time buyer is increasingly difficult. Since the onset of the credit crunch in 2008, there has been a continued reluctance from financial institutions to lend as well as increased mortgage deposit requirements, both of which pose barriers to first time buyers.

Whilst mortgage to income ratios may have generally increased (possibly as a result of lower interest rates), clearly there are implications for first time buyers. Typically a first time buyer in Aberdeenshire would require a deposit of around £26,250 to purchase an ‘entry level’ house at £125,000.

More households are seeking rehousing and Aberdeenshire Council’s waiting list has almost doubled from 3,637 applicants in 2002 to 7,084 applicants in 2011. Furthermore, homelessness presentations have continued to increase with 1,107 presentations in 2002 to 1,772 in 2011. Social rented lets across Aberdeenshire – both local authority and registered social landlords relets – averaged 1,018 annually in the four years to 2010/11 demonstrating continued pressure within the social rented sector.

There has been a net loss of social housing stock across Aberdeenshire. Aberdeenshire Council’s housing stock has reduced by 15% mainly through Right to Buy (RTB) sales; falling from 15,125 units in 2002 to 12,851 units in 2011 – an average annual loss of 227 units, with far more houses and larger properties sold than flats and smaller properties. RTB sales have however declined since 2008 due in part to the difficult housing market conditions, changes in RTB legislation and Pressured Area Designation and is expected to remain low in the future.

Let’s hope that the Scottish Government’s consultation on the future of Right To Buy will result in this policy finally being put to bed.