Here's how much the average house in Fife now costs

House prices increased slightly in Fife in June, new figures show.
Property prices rose slightly in JuneProperty prices rose slightly in June
Property prices rose slightly in June

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 1.5 per cent annual growth.

The average Fife house price in June was £134,934, Land Registry figures show – a 0.9 per cent increase on May.

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Over the month, the picture was less good than that across Scotland, where prices increased 2.8 per cent, but 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 rose by £1900 – putting the area 17th among Scotland’s 32 local authorities for annual growth.

The best annual growth in the region was in Na h-Eileanan Siar, where properties increased on average by 12.1 per cent, to £132,000. At the other end of the scale, properties in Shetland Islands dropped 25.7 per cent in value, giving an average price of £118,000.

Owners of semi-detached houses saw the biggest improvement in property prices in Fife in June – they increased 1.3 per cent, to £141,495 on average. Over the last year, prices rose by 2.2 per cent.

Among other types of property:

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Detached: up 1.2 per cent monthly; up 3.9 per cent annually; £243,981 average

Terraced: up 1.1 per cent monthly; up 1.5 per cent annually; £110,446 average

Flats: up 0.2 per cent monthly; down 1.8 per cent annually; £83,491 average

First-time buyers in Fife spent an average of £​108,350 on their property – ​£560 more than a year ago, ​and ​£10,600 more than in Jun-15.

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By comparison, former owner-occupiers paid £​159,910 on average in June​ – 47.6 per cent more than first-time buyers.

Buyers paid 14.1 per cent less than the average price in Scotland (£157,000) in June for a property in Fife. Across Scotland, property prices are low compared to those across the UK, where the average cost £238,000.

The most expensive properties in Scotland were in City of Edinburgh – £282,000 on average, and 2.1 times as much as in Fife.

City of Edinburgh properties cost 2.8 times as much as homes in East Ayrshire (£101,000 average), at the other end of the scale.

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