House prices in Fife: latest monthly figures show drop in February

The latest property figures were published this week.The latest property figures were published this week.
The latest property figures were published this week.
House prices dropped slightly, by 1%, in Fife in February, new figures show - but the dip does not reverse the longer-term trend, which has seen property prices in the region achieve 1.8% annual growth.

According to Land Registry figure, the average house price in the Kingdom February was £168,324.

But the bigger pictures shows that over the last year, the average sale price of property in Fife rose by £3,100 – putting the area 19th among Scotland’s 32 local authorities.

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Owners of detached houses fared worst. They dropped 1.4% in price, to £313,024 on average; but over the last year, prices rose by 2.2%.

Semi-detached properties went down 1% monthly but up 2.7% annually for an average price of £178,530. Terraced houses were down 1.2% monthly; up 2.6% annually for a £138,243 average.

The market for flats saw a slight drop of 0.5% monthly; down 0.1% annually for a £99,576 average

First-time buyers in Fife spent an average of £134,000 on their property – £2,100 more than a year ago, and £28,600 more than in February 2018. By comparison, former owner-occupiers paid £201,100 on average in February – 50.1% more than first-time buyers.

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Buyers in the Kingdom also paid 6.6% less than the average price in Scotland (£180,000) in February. The most expensive properties in Scotland were in Edinburgh – £320,000 on average, and 1.9 times as much as more than in Fife. Edinburgh properties cost 2.8 times as much as homes in Inverclyde (£115,000 average), at the other end of the scale.