Fife property prices: Region records bigger rise than Scottish average

House prices in Fife increased by 4.2% – more than the average for Scotland – in July, new figures show.

Saturday, 18th September 2021, 3:21 pm

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 15.8% annual growth.

The average Fife house price in July was £157,389, Land Registry figures show – a 4.2% increase on June.

Over the month, the picture was better than that across Scotland, where prices increased 2%, and Fife outperformed the 3.7% drop for the UK as a whole.

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The latest property prices were revealed this week

Over the last year, the average sale price of property in Fife rose by £21,000 – putting the area eighth among Scotland’s 32 local authorities for annual growth.

Owners of detached houses saw the biggest improvement in property prices in Fife in July – they went up 4.6%, to £288,735 on average.

Semi-detached property rose 4.4% monthly; up 15.9% annually; £164,587 average

Terraced houses were up 3.8% monthly; up 16.3% annually; £128,808 average

And flats went up 4% monthly; up 13.3% annually; £96,056 average

First-time buyers in Fife spent an average of £126,000 on their property – £17,000 more than a year ago, and £26,000 more than in July 2016.

By comparison, former owner-occupiers paid £187,000 on average in July – 48.8% more than first-time buyers.

The most expensive properties in Scotland were in Edinburgh – £309,000 on average, and twice as much as in Fife.

Edinburgh properties cost 2.8 times as much as homes in East Ayrshire (£110,000 average), at the other end of the scale.

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