PROPERTY prices in Dunfermline went up by nearly 15 per cent in the last quarter according to latest figures.

The average cost of a house in the city is now £228,514, a 14.8 increase since the same three-month period in 2021.

In West Fife and Kinross, there was a rise of 11.2 per cent from £196,908 to £218,917.

Across Edinburgh, Lothians, Fife and the Borders, the average property price is now £291,023, up by 6.8 per cent.

Across the region between October and December, new property listings were down by 4.3 per cent year-on-year.

ESPC says that while this is recorded as a year-on-year decline, it does in fact take us to the same new property listing volumes recorded in the same period in 2019, indicating that this is more likely a return to the norms witnessed before the post-pandemic market increases.

Dunfermline, along with Leith, recorded the highest volumes of property sales from ESPC data, followed closely by Corstorphine.

Over the three months, properties attained 105.9 per cent of their Home Report value on average – 0.6 per cent lower than the same period last year.

The median time for properties to go under offer across the region was 18 days, two days slower than the previous year.

Homes went under offer the fastest in East Lothian, West Fife and Kinross and West Lothian in a median time of 14 days.

ESPC's CEO Paul Hilton said significant political and financial changes had taken place between October and December.

“In 2023, we will see the full effects of these changes but the property market in Edinburgh, the Lothians, Fife and the Borders remains robust and competitive with buyers currently continuing to pay significantly over Home Report value to secure their dream home," he said.

“If you are thinking of buying or selling in 2023 it is never too early to talk to your solicitor estate agent."