Page 15 - Property market report-Mar-Aug24

in March-August 2023, signalling a very
West Fife & Kinross strong boost in sellers’ confidence in the

local property market.

Sales volumes In near-perfect alignment, sales volumes
increased by 13.2% across West Fife & Kinross also experienced a
Buyers paid and new property healthy jump of 13.2% year-on-year, hinting at a
102.3% Properties in listings rose 14.5% in well-balanced and thriving property market across the
of the Home Report West Fife & Kinross good news for the region, with demand almost exactly matching the supply.
valuation on average, took 16 days to local market.
down one percentage sell, two days slower
point. than the same time Dunfermline recorded the highest volume of property
last year sales, followed by Cairneyhill, Cowdenbeath, Crossford and
Aberdour. Three-bedroom houses in Dunfermline were
Average selling prices rise across by far the biggest sellers, but Dunfermline properties of

West Fife & Kinross. various sizes and styles (from one-bed flats to five-bed
houses) dominated the biggest-sellers list.
The average property selling price across West Fife secured 105% of their Home Report valuation figures
& Kinross during March-August 2024 was £214,304, on average, which is substantially higher than many West Fife & Kinross remained the
which is 2.4% higher than the average seen during the neighbouring areas, although still three percentage fastest-selling region with homes flying
same period in 2023. This makes West Fife & Kinross points less than the same time last year.
the second-most affordable region covered by ESPC, off the market.
after Dumfries & Galloway. 76.7% of properties for sale sold for at least their Properties in West Fife & Kinross moved at a much faster
Home Report valuation figure, signalling a healthy rate than those in other ESPC regions, with properties
Aberdour was the most expensive area of West Fife market across the region. This is however marginally boasting a median selling time of 16 days. This is two days
& Kinross, with properties here costing an average of lower than the 78.2% seen in March-August 2023, slower year-on-year but still makes West Fife & Kinross
£453,545. By contrast, Rosyth was the most affordable and significantly below the 95.5% recorded in March- the fastest-selling region of all areas covered by ESPC.
location, with homes selling for an average of £172,159. August 2022, although it is indicative of the shifts seen
across the wider market. Two-bedroom houses in Dunfermline were the quickest
One-bedroom flats in the popular city of Dunfermline sellers overall, flying off the market in just ten days, which
were the most affordable property type, selling for West Fife & Kinross saw an almost is two days faster than the same time last year.
£93,160 on average, making them a stellar choice for equal boost to both insertions and
first-time buyers or property investors. The speed of sale combined with such a generous boost in
sales. property listings only goes to show the enduring popularity
Buyers continued to pay slightly The property market in West Fife & Kinross of West Fife & Kinross, with buyers at all ages and stages
looking to take advantage of the lower property prices and
above Home Report valuation for experienced a very healthy boost to both property
listings and sales during March-August 2024, with excellent links and amenities the region offers.
homes. near-equal increases hinting at a very balanced and

The average percentage of Home Report valuation busy market across the region. 19.8% of properties set a closing date, which is very similar
to the 20.3% seen in March-August 2023 but very different
achieved by homes in West Fife & Kinross during
from the 34.7% seen at the peak of the market in March-
March-August 2024 was 102.3%, which is one New property listings rose by 14.5%, offering buyers
August 2022. We have seen similar statistics and shifts
percentage point less than during the same time last plenty of choice across a range of property styles and
throughout the regions covered in this report, signalling a
year. This means that buyers paid the second-highest budgets. Dunfermline boasted the highest volume of
country-wide trend in this regard.
premium to own a home in West Fife & Kinross, after properties coming onto the market, with levels up 19%
East Lothian and joint with Edinburgh, hinting at the on the same time last year, followed by Inverkeithing,
Inverkeithing was especially sought-after, with 50% of
popularity this area emanates with buyers. Rosyth, Dalgety Bay and Cairneyhill.
the homes for sale in this area setting a closing date –
in perfect correlation with Inverkeithing securing the
Buyers paid the highest premium for homes in 84.1% of sellers chose to list their home for ‘offers
highest percentage of Home Report valuation paid by
Inverkeithing; properties in this popular coastal town over’, which is a huge uplift from the 64.5% recorded
competitive buyers.
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