Page 14 - ESPC Property Market Report - Mar-Aug 2023

WEST FIFE & KINROSS Homes sold at a slower pace,

but the market here was the
Sales volumes rose quickest of all regions
3.4% Properties for sale in West Fife and Kinross

The average selling Buyers paid year-on-year across had a median selling time of 20 days during
price of property in 101.6% the region September-February, which is five days slower year-on-year.
West Fife & Kinross was of the Home Report However, despite this slower pace, West Fife & Kinross had the
£213,019 valuation on fastest-moving market of all areas covered in this report, showing
during September – average Properties for sale in how strong demand is from buyers.
West Fife & Kinross took
February
20 days
Rosyth was the fastest-moving market area, with a median selling
to go under offer time of 10 days. Unsurprisingly, the fastest-selling property type
also belonged to Rosyth, with three-bedroom homes in this
The average selling price rose location also selling in just 10 days – 11 days faster than the same
overall, with vast difference time last year, indicating a huge shift in demand.

between most expensive and New property insertions rose by 14.1%, 16.4% of homes for sale across the region went to a closing date,
most affordable areas meaning buyers in the region had plenty of down from 24% the previous year. This once again confirms that

The average selling price of property in West options to consider. Dunfermline had the with more properties on the market, buyers are under less pressure
Fife & Kinross rose by 1.4% year-on-year highest number of homes listed, followed to bid competitively and sellers have a reduced need for closing
during September-February, meaning the by Rosyth, Inverkeithing, Crossford and dates, impacting overall selling times.
new average was £213,019. Dalgety Bay. Most of these areas saw broad
increases in the number of properties Homes in Inverkeithing experienced the highest demand; 42% of
Aberdour was the most expensive area coming onto the market, except for Rosyth, homes for sale here had a closing date set during this period.
to buy a home, with properties here where insertion levels dropped 11.1% year-
commanding an average price of £411,300. By on-year. Buyers made savvier bids to snag a bargain
comparison, the most affordable area offered across the region
a drastically different figure: properties in Alongside this, sales volumes across the
Inverkeithing sold for £136,768 on average – a region rose 3.4%, cementing the theory Throughout September – February, buyers in West Fife and Kinross
difference of almost £300,000. that there were more sellers than buyers paid on average 101.6% of the Home Report valuation to secure a
currently in the market, indicating higher property, which is 2.5 percentage points less than the same time
One-bedroom flats in the city of Dunfermline competition for sellers to ensure their last year. Again, with more homes on the market, the impetus is
were the most affordable property type properties stood out to buyers. less on buyers to pay extreme premiums to secure properties,
impacting the averages achieved.
across the region, with an average selling
price of £99,631. Dunfermline secured the highest volume
of property sales (although this level was Homes in Aberdour secured the highest premium, with properties
Sales volumes and insertions 6% lower than the same time last year), achieving 105.8% of the Home Report valuation on average. Buyers
followed by Rosyth, Crossford, Kinross and looking for a bargain should pay attention to Kinross, where homes
rise across the region attained 96.5% of their valuation figure on average.
Inverkeithing.
The property market in West Fife & Kinross
moved at a healthy pace during September- Three-bedroom houses in Dunfermline During this period, 71.5% of homes for sale across the region sold for
February, with increases in both the level of sold in the highest volumes, signalling high at least their Home Report valuation, down from 79.6% last year, and
new properties coming onto the market, and interest from family buyers looking for an again indicative of how the market has shifted towards the favour of
property sales. affordable family home in the city. buyers, and how sellers have adjusted to the market conditions.

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