18th May 2012

First time buyers – key to property market

Apologies for the lack of blogs over the last few weeks.  This has been brought about by an unprecedented surge in activity in the Scottish property market in general and my business in particular.  This is a good sign, however, there are some interesting and perhaps worrying trends developing which I will report on over the next few weeks.  I read the report yesterday from Your Move indicating a massive surge in first time buyers prior to the end of Stamp Duty Relief.  I have to report that this is not my experience and I am becoming more and more concerned regarding the lack of first time buyers in the market.  I have not seen any official statistics but my own view is that lack of mortgage finance is severely curtailing first time buyer activity.  The Government’s New Buy Scheme launched in England to assist first time buyers purchasing new properties has failed to have any impact.  I would urge the Government to bring in a scheme to assist first time buyers who are looking to buy any property in the UK market.  This would release the property market, boost the construction industry, boost retail and have a huge positive impact on the UK economy.  This could be funded by tightening up the Capital Gains Tax Rules so that you have to be in your property for a certain period of time before you can sell it without incurring any Capital Gains Tax, i.e. if you live in a house for more than five years it can be classed as your sole or main residence, if you sell it prior to five years you then have to pay a percentage of the gain depending on how long you have lived in the property.  As well as funding any assistance to first time buyers this would also have the positive impact of curtailing property speculation.

I will report further on the property market soon.

Lindsay Darroch
Partner and Head of Property



The opinions expressed in this blog are of the author only and do not necessarily represent the opinions of Blackadders LLP.

Blackadders takes all reasonable steps to ensure that the content of this blog is accurate and up to date. The blog is not, however, intended as a substitute for seeking legal or other professional advice but rather as an informative guide to the services provided by Blackadders and topical legal developments. Blog users should always seek advice tailored to their specific situation. Consequently, Blackadders accepts no responsibility for any loss or damage suffered by anyone acting or failing to act on the basis of information contained on this blog. Downloading of material contained on this site is at the user’s own risk and all necessary virus checks must first be carried out by the user. Blackadders is not responsible for the material found on any web sites linked to this one and links to this site may only be made with Blackadders prior consent.


Blackadders owns the copyright in this blog and all material contained on it. The material on this blog may be downloaded for personal use only and must not be altered. Otherwise, Blackadders’ written consent is required before any material on this site is reproduced, copied or transmitted in any way.

Privacy Statement

Information passed to us via this blog is kept confidential and will not be disclosed to third parties except if authorised by you or required by law.

© Blackadders LLP 2020

Members of the Law Society of Scotland.

Blackadders Solicitors is a trading name of Blackadders LLP, a limited liability partnership, registered in Scotland No SO301600 whose registered office is 30 & 34 Reform Street, Dundee, DD1 1RJ. Reference to a ‘partner’ is to a member of Blackadders LLP.

Back to Blackadders' Property Blog: Covering Aberdeen, Dundee, Edinburgh, Glasgow, Perth, Angus and beyond