Property prices in Fife show slight rise according to latest data
House prices increased slightly, by 0.4%, in Fife in January, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 10.2% annual growth.
The average Fife house price in January was £145,339, Land Registry figures show – a 0.4% increase on December.
Over the month, the picture was less good than that across Scotland, where prices increased 1%, and Fife outperformed the 0.5% drop for the UK as a whole.
Over the last year, the average sale price of property in Fife rose by £13,000 – putting the area 10th among Scotland’s 32 local authorities for annual growth.
Owners of semi-detached houses saw the biggest improvement in property prices in Fife in January – they increased 0.8%, to £152,590 on average. Over the last year, prices rose by 10.8%.
Among other types of property:
Detached: up 0.6% monthly; up 11.3% annually; £264,313 average
Terraced: up 0.4% monthly; up 10.8% annually; £119,039 average
Flats: remained level over the month; up 7.6% annually; £89,164 average
First-time buyers spent an average of £116,000 on their property – £10,000 more than a year ago, and £18,000 more than in December 2015.
By comparison, former owner-occupiers paid £173,000 on average in January – 48.4% more than first-time buyers.
Buyers paid 11.4% less than the average price in Scotland (£164,000) in January for a property in Fife.
The most expensive properties in Scotland were in Edinburgh – £280,000 on average, and 1.9 times as much as in Fife.