Fife house price rise revealed

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House prices in Fife rose more than the Scottish average in June – despite a long-term downward trend.

The latest figures from the Land Registry show property prices across the region recording a 0.3 per cent annual decline.

The average house price in June was £133,359 – that’s up 1.1% on May.

Over the month, the picture was similar to that across Scotland, where prices increased 0.7 per cent, and Fife outperformed the 0.7 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Fife remained level – putting the area 24th among Scotland’s 32 local authorities for annual growth.

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Owners of flats saw the biggest improvement with a rise of 1.7 per cent, to £85,156 on average– but over the last year, prices dropped by 1.8 per cent.

Detached property prices rose 0.2 per cent, but annually are down 0.7 per cent.

There was better news for owners of semi-detached – up 1.2 per cent in June and up 0.7 per cent annually with an average sale price of £139,287.

Terraced homes were up 1.5 per cent in June, and 0.6 per cent annually with an average price of £109,369.

The average Fife house price in June was £133,359.

First-time buyers spent an average of £ 108,140 on their property – that’s £300 less than a year ago, and £16,370 more than in June 2014.

By comparison, former owner-occupiers paid £ 156,330 on average in June – 44.6% more than first-time buyers.

There was also good news – buyers in Fife 12.2% less than the average price in Scotland (£ 152,000) in June. The Scottish average was £230,000.

Edinburgh came in at £263,000- twice as much as in Fife.