Page 15 - ESPC Property Market Report - Mar-Aug 2023

WEST FIFE & KINROSS

22.3%
of homes went to
a closing date Rosyth was the
Sales volumes declined region’s most
15.7%, affordable area
The average selling while new property
price of property in listings saw no
West Fife & Kinross change
decreased 1.8% during
March-August 2023, to West Fife & Kinross
homes took
£210,381 Properties took longer to sell overall, but
Properties 14 days
achieved Dunfermline homes were snapped up
to sell
103.4% Homes in West Fife & Kinross had a median selling time of 14 days
of their Home Report during March-August 2023, two days slower than the same time last
valuation, down 5.2 year but still very speedy in comparison to neighbouring regions.
percentage points
Properties sold the fastest in Dunfermline at 13 days, again two
days slower than the same time last year. Three-bedroom flats
in this area, however, were snapped up in just seven days – three
days faster year-on-year.
Average selling prices declined overall, while
22.3% of West Fife & Kinross properties went to a closing date,
Rosyth and Dunfermline offered affordability down from 34.7% last year.

The average selling price of property in West Fife & Kinross
declined 1.8% annually during March-August 2023, taking the new
average to £210,381. Sales volumes decreased across the region

Overall, the volume of property sales fell 15.7% during March-
Rosyth was the most affordable area in West Fife & Kinross, with
August, showing a gradual calming of the market in comparison
an average property selling price of £141,370, while one-bedroom
to recent years.
flats in Dunfermline were the most budget-friendly overall, selling
for £97,678 on average.
Dunfermline was the area with the most property sales, but
volumes were still down 13.1% year-on-year. Three-bedroom
Overall, West Fife & Kinross saw extremely high levels of demand
houses in Dunfermline were the most popular properties to sell.
in recent years, likely due to its proximity to Edinburgh and good
commuter links, but with the gradual decline in working from
The village of Cairneyhill, west of Dunfermline, saw the biggest
home combined with the current financial climate, we may be
increase in property sales, with an annual increase of 66.7%.
seeing a return to pre-pandemic levels of demand, with buyers
paying less than before to secure a property in this area.
No change in new property listings overall

This can be seen in the amounts over Home Report valuation The level of new property listings in West Fife & Kinross saw an
that buyers were willing to bid. During March-August 2023, inconsequential decrease of 0.4% during March-August 2023,
properties for sale in West Fife & Kinross achieved 103.4% of amounting to no real change in this area of the market.
their Home Report valuation, down 5.2 percentage points on the
previous year. 77.6% of homes for sale here sold for at least their In Dunfermline, the number of new properties coming to the
Home Report valuation, down from 95.5% in March-August 2022. Editorial credit: Egor Baliasov / Shutterstock.com market increased 3.3% overall.

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