Mark Griffin MSP

The party’s proposals include a pledge to reform planning rules to ensure that every new development must sell a proportion of houses at a discounted price.

Under the plans, at least 20% of new affordable homes on each new housing development would have to be offered for a discounted price in perpetuity, with the next buyer continuing to benefit from the discount.

Additionally, the party has pledged to rip up “punitive” restrictions on government home ownership schemes.

As it stands the Scottish Government’s New Supply Shared Equity is only available to buy a new build home from a housing association or local council – but Scottish Labour has said the scheme should be available for all homes.

These new proposals build on the plans set out at Scottish Labour conference last year, including action to bring empty homes back into use and a £1 homes scheme.

Scottish Labour Housing spokesperson Mark Griffin said the new plans will make housing more affordable for Scots impacted by the “double whammy” of high house prices and soaring mortgage interest rates.

Mr Griffin said: “A double whammy of soaring house prices and interest rates have pushed mortgages through the roof and priced out thousands of potential first-time buyers.

“There is a housing crisis at the heart of this cost of living crisis, with far too many Scots being priced out of home ownership, forced to deal with sky-high rents and insecure housing.

“The Tories have pushed home ownership further out of reach with their disastrous economic incompetence, pushing mortgages up by an average of more than £2,000 a year.

“Meanwhile, the SNP has turned its back on Scots trying to get a foot on the ladder, with house prices in Scotland soaring by an eye-watering £42,072 in just five years.

“This housing crisis is pushing up house prices and hindering opportunities for growth – Scots cannot keep paying the price for SNP and Tory economic incompetence.

“For too many people, home ownership has become a distant dream, but Scottish Labour will make that dream a reality once again.

“Scottish Labour will stand up for first-time buyers by ripping up the punitive rules locking people out of existing support schemes and using planning rules to deliver cheaper homes.

“Scotland needs change and Scottish Labour is ready to deliver it by putting home ownership within reach once again and unlocking the economic benefits of a strong housing sector.”