| Comment | With respect mate your deposit is being eroded away two fold - so you’ll be getting less than 1% on any savings (0.5% if you’re lucky) whilst inflation is running rampant thanks to all the quantitative easing in place to cope with furlough etc.
Add to that house price inflation (HPI) is currently 6.9% for the whole of Scotland so probably closer to 10% for desirable areas in the Southside and West End. If a property was £200k a year ago with HPI at 10% that’s an additional £20k. Even at the official figures of 6.9% for Scotland that’s £13,800.
You’d literally need to try and save more than the rate of HPI or you’re not actually adding to a deposit in real terms (if that makes sense), just treading water.
It’s a shit situation - there’s more people moving to the country than houses being built to cater for those numbers and here we are. I read recently at our current immigration rates (both legal and the current 500+ people arriving illegally a day) we need to build a house every 6 mins to keep up - and that isn’t going to happen.
And that’s just homes for new arrivals - doesn’t even make a dent on all the people already living here needing homes. |
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