Although we often talk about the difficulties for first-time buyers in a challenging housing market, many families are finding the second rung of the housing ladder equally unsteady.

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In 2007 the typical second stepper was able to fund close to 48% of their next home through equity built up in their first property. Today potential second steppers who bought their first home in 2008 are estimated, on average, to have an equity level of £13,985, equivalent to 10% of the average price for a semi detached house at £134, 667.

Yet on the positive side these figures represent a slight improvement on last year when the typical second stepper equity level of £9,498 was estimated to be 7% of the average price for a semi detached home.

The figures from the Bank of Scotland also show that there were 13,600 home movers in Scotland in the first half of 2013, a rise of 2% on the same period in 2012. During the same period, the number of first time buyers rose by an estimated 22%.  This meant that home movers accounted for the smallest share of all home buyers since 2001 at 56% compared with 51%.

'Housing affordability for the typical second stepper in Scotland has marginally improved in the past year. Nonetheless, there are many potential second steppers who are still in their first home which they bought in the run-up to, and at, the peak in house prices in 2008. Many of these home owners may still be unable to move due to having either very low, or negative, equity in their homes,' said a housing economist at the Bank of Scotland.


Edinburgh Solicitors Blair Cadell look after your complete purchase transaction including mortgage matters, contract and conveyancing, up to the day you receive the keys to your new property, all at single fixed cost.