THERE'S a real gap in the market with the average price of a home in Aberdour hitting £411,300 - it's around £300,000 less along the road in Inverkeithing.
Three-bed homes in Rosyth are changing hands in just 10 days - "indicating a huge shift in demand" - and one-bed flats in Dunfermline are the most affordable property type.
That's the findings from the ESPC who have taken a closer look at the 'West Fife & Kinross' area and concluded it's a buyer's market with more properties for sale and lower prices being paid.
Their property market report for September to February said: "Aberdour was the most expensive area to buy a home, with properties here commanding an average price of £411,300.
"By comparison, the most affordable area offered a drastically different figure: properties in Inverkeithing sold for £136,768 on average - a difference of almost £300,000.
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"One-bedroom flats in the city of Dunfermline were the most affordable property type across the region, with an average selling price of £99,631."
It said the average price of a home in West Fife & Kinross was £213,019 - up 1.4 per cent from the same period in 2022-23 - and the last six months had seen increases in the number of new properties coming onto the market and property sales.
New property insertions rose by 14.1 per cent, meaning buyers had plenty of options to consider, with Dunfermline leading the way with the highest number of homes listed, followed by Rosyth, Inverkeithing, Crossford and Dalgety Bay.
Sales volumes were up by 3.4 per cent, "cementing the theory that there were more sellers than buyers currently in the market, indicating higher competition for sellers to ensure their properties stood out".
Three-bedroom houses in Dunfermline sold in the highest volumes, signalling high interest from family buyers looking for an affordable family home in the city.
Properties for sale in West Fife and Kinross had an average selling time of 20 days during September to February, five days slower year-on-year, but this was still the quickest compared to the other ESPC regions.
Rosyth was the fastest-moving area, with an average selling time of 10 days.
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The report added: "Unsurprisingly, the fastest-selling property type also belonged to Rosyth, with three-bedroom homes in this location also selling in just 10 days - 11 days faster than the same time last year, indicating a huge shift in demand."
The ESPC said 16.4 per cent of homes for sale went to a closing date, down from 24 per cent the previous year, and explained that buyers were under less pressure to bid competitively and sellers had a reduced need for closing dates.
Homes in Inverkeithing experienced the highest demand, with 42 per cent going to a closing date, but buyers made savvier bids elsewhere to snag a bargain Across the area the average paid was 101.6 per cent of the home report valuation, 2.5 per cent less than the previous year.
The ESPC said: "Again, with more homes on the market, the impetus is less on buyers to pay extreme premiums to secure properties, impacting the averages achieved."
Homes in Aberdour secured the highest premium, going for 105.8 per cent of the home report valuation on average, while sellers in Kinross had to settle for 96.5 per cent.
During this period, 71.5 per cent of homes for sale went for at least their home report valuation, down from 79.6 per cent, which was "indicative of how the market has shifted towards the favour of buyers and how sellers have adjusted to the market conditions".
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