THE latest ESPC property report revealed that Dunfermline is hugely popular with buyers as it secured the highest volume of property sales. 

For buyers on a budget, one-bedroom flats in the city were an attractive option, selling for £110,685 on average during the November to January period. 

Three-bedroom properties in Dunfermline were also big sellers over the three months, although figures were much steadier in comparison to Edinburgh; sales volumes for this property type rose 8.3 per cent annually.

In line with recent trends, the average property selling price across Edinburgh, the Lothians, Fife, and the Borders declined by 4.4 per cent during the last quarter, taking the new average across the whole area to £271,106.

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However, West Fife and Kinross bucked the trend and the average price of buying a home there is now £210,454, a jump of 3.5 per cent annually.

The report also revealed that sellers were very active in the market from November to January in comparison to the previous year; new property insertions increased by 13.6 per cent during this time.

The ESPC said this means an additional choice for buyers, and plenty of competition, giving the market a welcome boost after a long period of demand outstripping supply, especially for smaller, more affordable properties.

Dunfermline, Leith and Corstorphine generated the highest levels of property listings.

The volume of properties coming onto the market here rose by 19.3 per cent. 

Overall, properties took longer to sell.

Across the whole ESPC area, homes in West Fife boasted the fastest-selling properties, with homes going under offer in 19 days.

This was also the only location that saw a quicker median selling time than the previous year, with homes selling one day faster overall.

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Paul Hilton, CEO of ESPC, said: “November-January is typically a much quieter time for the property market, however, it’s clear to see that this wasn’t the case this time.

"The market appears fairly steady overall, and all the signs point to increasing numbers of first-time buyers coming into the market, which is very welcome news after a very difficult period financially for many in their position."

He added: "The average selling price has declined overall, but as with our previous report, if we look past the headline figures, we can clearly see reasons for this that should reassure homeowners that there hasn’t been a wide-ranging decline in property values.

“Our latest report also indicates an increase in seller confidence in the market, which is again welcome news to help reinvigorate proceedings.

"There’s been a healthy increase in property listings, which is great news for buyers too. We can see the effects of rising numbers of properties coming on to the market – fewer closing dates and lower overbids are all examples of this – but it’s important to remember that this isn’t negative news for sellers, who can also reap the benefits in their onward property purchases.”