Fife house prices up –  terraced house owners enjoy biggest increase

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 5.4% over the last year. The average house price in June was £174,016, Land Registry figures show – a 1.7% increase on May.

Over the month, the picture was different to that across Scotland, where prices went down 0.4%, while Fife was above the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Fife rose by £8900 – putting the area fourth among Scotland’s 32 local authorities with price data for annual growth.

First-time buyers spent an average of £138,600 on their property – £6900 more than a year ago, and £30,200 more than in June 2018. By comparison, former owner-occupiers paid £207,800 on average in June – 49.9% more than first-time buyers.

Owners of terraced houses saw the biggest rise in property prices in June – they increased 2%, to £142,234 on average. Over the last year, prices rose by 5%.

Among other types of property, detached: up 1.4% monthly; up 5.4% annually; £322,278 average; semi-detached: up 1.7% monthly; up 6.1% annually; £184,413 average; flats: up 1.6% monthly; up 5.1% annually; £103,832 average.

Buyers also paid 8.1% less than the average price in Scotland (£189,000). Across Scotland, property prices are low compared to those across the UK, where the average cost is £288,000.