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.

Thursday, 25th March 2021, 4:25 pm

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.

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House prices in Fife have shown slight increase

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.

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