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.
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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.

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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.

House prices in Fife have shown slight increaseHouse prices in Fife have shown slight increase
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

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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.

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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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