Page 16 - ESPC Property Market Report - Mar-Aug 2023

Homes in
EAST FIFE 31 days
East Fife took

New to sell, five days
property listings slower than the
increased by same time last
18.3% year Sales volumes
annually increased
13.3%
year-on-year

Buyers
successfully bid The average
102.2% selling price of
East Fife homes
of Home Report valuation declined 5.5% to
on average, 4.8 percentage
points less than £286,099
A busy period as listings and sales volumes in this area rocketed 140% compared to the last year
both rose significantly same time the previous year.

It was a busy six months for East Fife during For a direct comparison, the most popular property
September-February, as new property listings and type in St Andrews had an average selling price
sales volumes experienced significant increases of £407,208 – a stark contrast to Kirkcaldy, where East Fife buyers were able to snag Homes took longer to sell
compared to the previous year. three-bedroom houses (also this area’s most popular properties closer to the valuation overall, but still sold quickly in
property type) cost £163,856 on average. figure sought-after locations
New property listings rose by 18.3%, meaning buyers
were presented with a much broader selection of Other areas which saw a boost in new property Buyers in East Fife were able to bag a bargain during Homes in East Fife had a median selling time of
properties to choose from. Homes in St Andrews listings were Cupar (rising 42.9%), Glenrothes (where September – February, as they bid 102.2% of the Home 31 days, which is five days slower than the same
were the most commonly listed, followed by listings rose by a staggering 157.1%) and Anstruther, Report valuation on average to secure a property. This time last year.
properties in Kirkcaldy, Cupar, Glenrothes and up 44.4% on the same time last year. is 4.8 percentage points lower than the previous year,
Anstruther. indicating how much the market has shifted and how 14% of homes went to a closing date, down
Average selling prices declined, but the increase of properties coming onto the market has almost 10% year-on-year, when levels were at
Aligned with this, sales volumes also rose, with reduced pressure on buyers to bid competitively. 23.4%. This clearly indicates the impact of more
bargains could still be found
a 13.3% surge year-on-year. St Andrews boasted homes on the market, reducing pressure on
the highest number of property sales, with buyers The average property selling price in East Fife 68.5% of homes for sale in East Fife sold for at least buyers to compete for the same limited pool of
clearly keen to live in this world-renowned part of declined 5.5% year-on-year during September- their Home Report valuation, down from 82.8% the properties.
the country. In particular, three-bedroom houses in February, meaning the new average was £286,099. previous year.
St Andrews were the most popular property type, Properties went under offer the quickest in
hinting at rising demand from family buyers hoping St Andrews was, unsurprisingly, the most expensive Buyers paid the highest premium for homes in Cupar, picturesque Anstruther, with a median selling
to make the area their forever home. area to buy a home, with average selling prices here where properties sold for 106.4% of their Home Report time of only 19 days. As homes are rarely
reaching £427,932. In contrast, the most affordable valuation on average. In Kirkcaldy, buyers were able to available in this charming coastal village, it’s not
The traditionally more affordable area of Kirkcaldy place to buy property in East Fife was Glenrothes, snap up a home for under the valuation price, bidding unexpected that buyers would feel the need to
also experienced a huge jump in popularity, as sales where the average home cost £138,571. 98.2% on average to secure their chosen property. proceed quickly to secure a home here.

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