DUNFERMLINE is a hotspot for first time buyers – despite an average increase in property prices.

The cost of a home in the city jumped by 7.7 per cent in the last quarter, which covers May to July, according to new figures released by ESPC.

This means the average price for a house in Dunfermline rose to £193,733, while one-bedroom flats remain the most affordable in the central east Scotland region as a whole.

Overall, the year-on-year rise across Edinburgh, the Lothians, Fife and the Borders was 4.8 per cent to an average price of £288,993.

Paul Hilton, CEO of ESPC, commented: “It’s been another busy quarter for the property market, with sustained growth across many areas, including in the average selling prices of property, and the amount over home report valuation that buyers are willing to pay."

He added: “For buyers starting out on their property journey, Leith and the surrounding neighbourhoods, and Dunfermline, both offer great opportunities in terms of pricing and the volumes of available properties."

In Dunfermline, two-bedroom flats were also one of the cheapest properties to buy at £129,296 while three-bedroom houses saw a 22.5 per cent decline in average selling price, taking the new figure to £213,649.

Sellers in the city were the most active, with the highest volume of properties listed for sale in this area during this quarter, with insertion volumes rising 37.2 per cent annually.

Dunfermline also attained the highest amount paid over the home report valuation, as buyers here paid on average 110.1 per cent, a rise of 5.7 per cent from the previous figures.

Homes sold the fastest in West Fife and Kinross, as well as in West Lothian and Midlothian, in a median time of 12 days.