HOUSE Prices in West Fife and Kinross have gone down according to the latest ESPC property report.

The figures, from March to August, showed a dip of 1.8 per cent in the average selling price which is now at £210,381.

Across Edinburgh, the Lothians, Fife and the Borders, the average was also down, by 1.7 per cent to £279,980.

READ MORE: Rosyth great-gran still 'trapped' in home after nine months

In West Fife and Kinross, sales volumes were down by 15.7 per cent although there was no change in the number of new property listings. Over the three month period, 22.3 per cent of homes went to a closing date.

Rosyth was the most affordable area in West Fife and Kinross, with an average property selling price of £141,370, while one-bedroom flats in Dunfermline were the most budget-friendly overall, selling for £97,678 on average.

The ESPC report suggested that changes could be happening in the local housing market.

It states: "Overall, West Fife and Kinross saw extremely high levels of demand in recent years, likely due to its proximity to Edinburgh and good commuter links, but with the gradual decline in working from home combined with the current financial climate, we may be seeing a return to pre-pandemic levels of demand, with buyers paying less than before to secure a property in this area.

"This can be seen in the amounts over home report valuation that buyers were willing to bid.

"During March-August 2023, properties for sale in West Fife and Kinross achieved 103.4 per cent of their home report valuation, down 5.2 percentage points on the previous year.

"And 77.6 per cent of homes for sale here sold for at least their home report valuation, down from 95.5 per cent in March-August 2022."

Properties in West Fife and Kinross had an average selling time of 14 days during March-August 2023, two days slower than the same time last year.

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.

A total of 22.3 per cent of West Fife and Kinross properties went to a closing date, down from 34.7 per cent last year.

Dunfermline was the area with the most property sales, but volumes were still down 13.1 per cent year-on-year. Three-bedroom houses in the city were the most popular properties to sell.

Cairneyhill saw the biggest increase in property sales, with an annual rise of 66.7 per cent.