Posted on Aug 21, 2014
According to property search engine, Placebuzz.com, Dundee is among the least affordable cities in the UK for second time buyers who want to move to a bigger home.
George Solley, Director of Property Sales at Thorntons Property Services, market leaders in the provision of estate agency services, advises that the Dundee property market is in fact very much affordable to "second stepper" buyers.
He said: "Throughout variable market conditions over the years, the Dundee property market has provided affordable housing usually with good availability.
"The report suggests that the "second stepper" is faced with paying an additional £179,089 to move from their first property to a semi detached or terraced house. However the Dundee property market has good availability of houses which cost considerably less than that quoted differential.
"Based on recent sales figures there has been a supply of three bedroom terraced and semi detached properties from £85,000 to £160,000 in popular areas of the city, including New Build housing.
"With numerous flats in and around the city priced from £60,000 to £80,000, we believe the figures reported by Placebuzz are not an accurate reflection on the Dundee property market.
"Previous property market reports have quoted Dundee as one of the most affordable cities in which to buy property, with statistics calculated on the basis of average price of house sold against average salaries, and Thorntons are confident that this information remains accurate."