Page 16 - September2023

THE PROPERTY MARKET
Dunfermline
The House Price Report: August 2023

We reveal the latest housing market data across Edinburgh,
the Lothians, Fife and the Borders.

he average selling price of property Two-bedroom flats in popular Bonnington
across Edinburgh, the Lothians, Fife sold the fastest overall, going under offer
Tand the Borders decreased 2.8% in a median time of 10 days – 11 days faster
annually during June-August 2023, to than last year.
£286,560.
28% of properties went to a closing date,
Many areas within the ESPC regions down from 38% in 2022, showing that Insertions were down 3% across all areas, and 140
Dunfermline had the most properties listed for
experienced this trend - the Borders the frenzy of the past few years has truly sale, with this figure up 5% on last year.
saw the largest decrease of 9.7%, taking calmed. There was also a significant 58% solicitor estate agents
average selling prices there to £226,659, annual increase in the volume of properties ready to help you buy and sell homes
and the City of Edinburgh’s, where the being listed for a fixed price. During June-August 2023, 81% of homes Over
average selling price declined 3% to for sale sold for at least their Home Report
£305,976. Overall, sales volumes were down 10% valuation, down from 93% of properties last 2,300
year-on-year. Dunfermline was the area year, showing that buyers are beginning to see homes for sale
Two-bedroom flats in Dunfermline were with the highest volume of property sales; the benefits of the market and can make lower
offers, or even take advantage of the increase
the most affordable property type, selling however, this figure was down 28% on in fixed price properties available, some of 730,000
for £131,610 on average. June-August 2022. My ESPC emails sent during August
which are marketed at Home Report value or
even lower.
Properties took longer to go under offer Two-bedroom flats in Leith were the most
during June-August 2023, with a median popular property type to sell, very closely Overall, properties sold during this time
time of 20 days – seven days longer than followed by one-bedroom flats in the achieved 104% of their Home Report valuation, “It’s encouraging to see figures that mean the
market is becoming more accessible to first-
the same time in 2022. same area.
down 5 percentage points on the same time time buyers. With significant increases in fixed
last year. price listings and a decline in the amount of
Home Report valuation paid, buyers with lower
Key points £286,560 Paul Hilton, CEO of ESPC, said: “The three property, and it shows that sellers have more of
budgets have a better chance of finding a
What does it all mean?
an open mind when it comes to the price they
months of June-August are typically a quieter
average selling price
hope to achieve.
period for the property market, but it’s easy to
The average selling price fell 2.8% year-on-year to £286,560.
lose sight of that when you compare it to the
extraordinarily high levels of activity of the “While across the UK, the data around house
past few years. If we break away from that, the prices and the property market seems severe,
104% 20 days figures published today are what we’d expect the Scottish market overall appears to be more
resilient and less dramatically impacted than
to see for this time of year and the current
average percentage of Home median time to sell climate. The market is going through a period the market across the rest of the UK.
Report valuation achieved of cooling generally, and with many buyers
and sellers away on holiday or taking time with “If you’re thinking of buying or selling a
On average, buyers paid 104% of The median selling time for
Home Report valuation, down 5 properties was 20 days, seven days their families, there is usually always a period of property in Edinburgh, the Lothians, Fife or
percentage points. slower than 2022. downtime, so the decline in figures across the the Borders, contact your local ESPC solicitor
board is not a shock. estate agent today.”
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