Residential property developers in Scotland are calling on the UK government to do more to boost the housing market by helping to increase the availability of mortgages and install greater confidence in the housing market.
The call resulted from a meeting of trade body Homes for Scotland's Board which includes senior representatives from Barratt Homes, Persimmon and Stewart Milne among other housebuiilders, and comes on the back of the news that Scottish property sales in the third quarter of this year fell to their lowest level since Registers of Scotland records began.
It also follows the release of recent Bank of Scotland research in which some 60% of respondents cited raising a deposit as the main barrier to buying a home, 54% concerns about job security and 35% general mortgage availability.
Homes for Scotland's chairman, Andy Pearson, said: "There are around 160,000 people on housing waiting lists in Scotland yet only 15,000 new homes were built last year - the lowest level since the Second World War. With every new home built supporting four jobs and every nine one apprenticeship5, the wider social, economic and environmental benefits of increasing housing production are well recognised.
"The Scottish Government has supported us in helping buyers overcome the difficulties caused by large deposit requirements through the MI New Home scheme, which celebrated its first sale this week.
"Whilst it is vital that the Scottish Government continues to maximise investment in housing and remove barriers to development in Scotland, this week's reports demonstrate the UK Government needs to take more urgent action to stimulate the wider economy and boost consumer confidence.
"This is particularly important in relation to increasing the general flow of mortgage finance and removing constraints on corporate lending, both of which continue to hamper recovery in our sector."