HOUSE prices in Dunfermline have risen by 4.5 per cent compared to this time last year.

The average selling price in the town is £173,933, an increase from last year’s average of £166,514.

Statistics also revealed that three-bedroom homes in Dunfermline were the second most popular property type across Scotland.

An ESPC report this week shows that it's also good news for homeowners looking to sell in West Fife & Kinross.

Figures for May to July this year revealed that the average sale price rose to £179,465.

It is a rise of 6.1 per cent in comparison to 12 months ago when properties were selling for around £169,139.

Between May and July, the median time to sell properties across all areas of the country was 21 days, which was three days slower than last year.

Jamie Fraser-Davidson, business analyst at ESPC, commented on the figures.

He said: “Over the past three months, we’ve seen the volume of residential property sales in Edinburgh, the Lothians, Fife and the Borders continue to increase compared to last year.

“However, in the last three months, we have seen a fall in the number of properties coming to market compared to last year.

“The Bank of England’s decision to keep the interest rate at the current level of 0.75 per cent is good news for borrowers.

“However, with fewer properties coming to market, lack of supply and high demand will likely continue driving up selling prices in the area, making it tricky for first-time buyers to get on the property ladder.”