The ESPC said the city was “currently riding a wave of popularity” with demand pushing the cost of buying a home here up by almost 30 per cent.
Their latest report said that between October and December 2023 the average selling price for a property in Dunfermline was £178,116 – by the same time period in 2024 it had hit £230,233.
It was also recently named as the place in Scotland which saw the biggest increase in house prices in 2024.
And yet across the ESPC area, which covers Edinburgh, the Lothians, Fife and the Borders, Dunfermline was also home to the most affordable property on the market with one-bedroom flats going for an average of £96,475.
Two-bedroom houses in Dunfermline were the fastest-selling property types, while one-bedroom flats were the most affordable across the ESPC area. (Image: Newsquest) READ MORE: Businessman with Dunfermline links banned after £7.6m goes missing
CEO Paul Hilton said: “The final three months of 2024 saw the year end on a positive note for the housing market, with incredibly healthy levels of activity across the board.
“We’ve seen everything from rising property prices to decreasing sales times, and generous increases in the volumes of both property listings and property sales – all key indicators of a buoyant market.
“Once again, Dunfermline and the east of Edinburgh both appear to offer the strongest appeal for buyers, with extremely active markets in both of these locations.”
The 29.3 per cent in average selling prices in Dunfermline indicated a “continuation of the strong demand for this location” and and it also offered the highest volumes of property listings, up by 31.3 per cent from the previous year.
Compared to the same three months in 2023, there was a spike in the average selling prices in West Fife and Kinross too, up 17.5 per cent from £194,826 to £229,004.
Across Edinburgh, the Lothians, Fife and the Borders as a whole, the figures were up by 5.8 per cent to £286,017.
Two-bedroom houses in Dunfermline were the fastest-selling property types, typically being snapped up in just nine days.
This was four days faster than the previous year.
The ESPC report added: “Supporting the idea that Dunfermline is currently riding a wave of popularity, the city boasted the highest volume of property sales across the three-month period.”
It said that, in common with most areas in Fife, Edinburgh, the Lothians and the Borders, there was a dip in the amount of the Home Report valuation paid by buyers, which “was to be expected given that this has been the case for several months now”.
West Fife and Kinross “continued its popular streak”, with buyers paying the highest premium to live in this region, at 103.8 per cent.
The average selling time for a property during October to December was 21 days, one day faster than during the same quarter in 2023.