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

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.

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.

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.