House prices increased slightly in Fife in August, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 0.5% annual growth .
The average Fife house price in August was £134,409, Land Registry figures show – a 0.2% increase on July.
Over the month, the picture was similar to that across Scotland, where prices increased 0.3% , and Fife underperformed compared to the 0.8% rise for the UK as a whole.
Over the last year, the average sale price of property in Fife rose by £690 – putting the area 25th among Scotland’s 32 local authorities for annual growth.
The best annual growth in the region was in Na h-Eileanan Siar, where properties increased on average by 11.5%, to £122,000. At the other end of the scale, properties in Aberdeen dropped 8.3% in value, giving an average price of £146,000.
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Winners and Losers
Owners of detached houses saw the biggest improvement in property prices in Fife in August – they increased 0.8%, to £239,443 on average. Over the last year, prices rose by 1%.
Among other types of property:
Semi-detached: up 0.1% monthly; up 1% annually; £139,659 average
Terraced: remained level over the month; up 0.8% annually; £109,487 average
Flats: down 0.1% monthly; down 0.8% annually; £85,595 average
First steps on the property ladder
First-time buyers in Fife spent an average of £ 108,520 on their property – £340 more than a year ago, and £15,300 more than in August 2014.
By comparison, former owner-occupiers paid £ 158,320 on average in August – 45.9% more than first-time buyers.
How do property prices in Fife compare?
Buyers paid 13.0% less than the average price in Scotland (£155,000) in August for a property in Fife. Across Scotland, property prices are low compared to those across the UK, where the average cost £235,000.
The most expensive properties in Scotland were in Edinburgh – £266,000 on average, and twice as much as in Fife. Edinburgh properties cost 2.6 times as much as homes in East Ayrshire (£101,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average August sale price of £1.3 million could buy 15 properties in Burnley (average £84,000).
Average property price in August
Annual growth to August