Economic, demographic and housing market trends are triggering a change in home ownership in the UK, and as a result mortgage borrowing in older age is likely to move from niche to mainstream within the next decade.

UK house prices rose by an average of 4.1% on an annual basis, taking the average property value to £215,847, according to March’s edition of the UK House Price Index (UK HPI). On a monthly basis, house prices have fallen by 0.6% across the UK since February 2017. 

New research from Halifax has revealed that confidence in the UK housing market has stabilised following a record decline.

In a move that aims to help more families onto the housing ladder, the Scottish Government has announced that the price cap on properties eligible for the Help to Buy (Scotland) scheme will remain at £200,000 in 2018/19.

The average price of a property in Scotland in February 2017 was £138,821, according to the latest UK House Price Index (UK HPI). This is an increase of 3.1% compared to February last year but a decrease of 0.6% compared to January 2017.