Mortgage lending in Scotland, particularly to first time buyers, outpperformed the rest of the UK in the second quarter of the year according to the Council of Mortgage Lenders (CML).
The CML says that the number of loans to first time buyers in the second quarter of the year (April to June) was up by 9% on the same time last year. Lending to home movers was also higher, with the number of loans 6% above the level seen at the same time last year.
Overall lending for house purchase, a good measure of the strength of the market, was up 7% in terms of transactions and by 33% in terms of value compared to the same quarter last year.
The data for first time buyers is in stark contrast to the results for the rest of the UK where lending to this group actually fell in the second quarter of they year. The overall increase in lending for house purchase was also higher than the UK average.
The figures are a salutary reminder that the Scottish property market does not always mirror the rest of the UK, at least in the short term. You can see the full CML press release here.