Housing market woes continue without buyers looking for starter homes.  Without these buyers the owners of the starter homes are stuck and cannot buy their second upgrade home.  They remain in their homes that they have most likely outgrown and the housing market remains frozen or in a “bottleneck” movement according to a recent study.

The Bank of Scotland conducted their report on the housing market and revealed that 65 per cent of those looking to move up the property ladder cannot do so because they either lack the equity to move or they lack a buyer that will offer them their needed price.  There was an overwhelming 76 per cent that viewed the government as the source of help to assist people trying to sell their first home. 

Carol Anderson, head of mortgages at the Bank of Scotland remarked on the report saying “First-time sellers in Scotland are now faced with some very tough challenges when trying to make their next move on the property ladder.

“Almost two-thirds of Scottish second steppers have wanted to climb up the ladder in the past 12 months but have been unable to do so as they face an increasing number of challenges.

"It is vital that this group of home movers receive more support and attention as they play an intrinsic role in getting the housing market moving again.

“To achieve a sustainable housing market in Scotland we need to see movement throughout the market.

“If second steppers get stuck on the first rung, movement at the bottom half of the ladder comes to a standstill and this bottleneck will not only restrict the supply of starter properties but will have a knock-on effect across the whole of the housing market.”