TYPICAL FIRST-time buyers in Scotland are unable to afford a semi-detached property in 38 of 47 towns surveyed by the Bank of Scotland.

Figures released today also show that first-time buyers need to save more than twice as long as those five years ago.

It takes the typical first-time buyer four years to save a deposit in Scotland.

Five years ago the typical deposit on a property was £4992, or 23% of average earnings. The typical deposit is now £15,762, equivalent to 57% of average annual earnings of £27,806.

The bank’s report reveals that Edinburgh, where the average property price is 7.7 times the average income, is the least affordable for first-time buyers, while Lochgelly in Fife is the most affordable, with an average property priced 3.5 times higher.

Average property in Dundee (£113,777) is 4.8 times the average income of a first-time buyer, in Cupar it is 6.6 times (£154,239). In Perth (average property price £140,176) the figure is six times the average income; in Dunfermline (£124,575) it is 5.3 times; and in Kirkcaldy (£110,251) it is five times higher.

The number of first-time buyers in Scotland is at a record low.

There were an estimated 29,000 first-time buyers in Scotland in 2005, lower than in 2004 (32,000) and than in 2002 (50,000).

In 2005 it is estimated that first-time buyers accounted for 24% of property trans- actions in Scotland. In 1995 they accounted for 37% of property transactions.

Bank of Scotland research found that a typical first-time buyer in Scotland was unable to afford a semi- detached property in 81% of towns surveyed in 2005 (38 out of 47), compared to 9% of towns (4 out of 47) in 2002.

Terraced properties were unaffordable for Scottish first-time buyers in 30% of towns in 2005, compared to 7% of towns in 2002.

The average price paid by first-time buyers in Scotland increased by 12% in 2005 to £92,880 from £82,654 in 2004.