Fife house prices: flat owners score best in latest property price analysis

Land Registry figures show the average Fife house price in May was £170,117. Over the month, the picture was different to that across Scotland, where prices went up 3% - and Fife was above the UK as a whole, where prices did not change.

Over the last year, the average sale price of property in the region rose by £7,800, putting the area sixth among Scotland’s 32 local authorities with price data for annual growth. First-time buyers spent an average of £135,400 on their property – £5,900 more than a year ago, and £28,300 more than in May 2018. By comparison, former owner-occupiers paid £203,200 on average in May – 50% more than first-time buyers.

Owners of flats saw the biggest rise in property prices– up 1.6%, to £101,599. Detached properties went upp 0.8% monthly; up 5.4% annually; £316,454 average; semi-detached up 0.6% monthly; up 5.2% annually; £179,943 average; and terraced up 1% monthly; up 4.3% annually; £138,614 average

Fife buyers paid 11.6% less than the average price in Scotland (£193,000) in May. Across Scotland, property prices are low compared to those across the UK, where the average cost is £286,000. The most expensive properties in Scotland were in East Lothian – £339,000 on average, and twice the price as in Fife. At the other end of the scale, properties in the Shetland Islands lost 7.1% of their value, giving an average price of £188,000.