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Dunfermline house price rises eclipse even Edinburgh

Dunfermline's proximity to Edinburgh has led to a surge in housebuilding.
Dunfermline's proximity to Edinburgh has led to a surge in housebuilding.

The average house price in Scotland has soared to more than £173,000, according to new statistics.

And Dunfermline is home to one of the biggest year-on-year rises in the country, with some properties in the Fife town going for 30% more than they were in 2014.

That eclipsed increases in the likes of central Edinburgh, where property prices went up by 15.5%, and even in the affluent Marchmont area of the capital, where there was a 21.1% rise in the same period.

New statistics from ESPC revealed property prices increased 13.3% in the first three months of 2015 compared to the same period in 2014.

The rise takes the average price paid for a house between January and March to £173,830 the highest figure recorded for any quarter since Registers of Scotland (RoS) began compiling quarterly statistics in 2003.

However, despite the jump in values, there was a 4.7% drop in the number of sales over the period, marking the second consecutive quarter that has seen a fall in sales.

Hugh Welsh, head of data at RoS, said: “We’ve seen sustained growth in house prices throughout the 2014-15 financial year, with January to March’s figures representing the highest quarterly increase in average price since quarter one of 2007-08.

“Future sales statistics will determine whether this is a one-off spike in quarter four average prices or a trend that will continue.”

In Dunfermline the average house price stands at £184,883 a sharp rise from the £129,382 recorded in the first three months of 2014. Edinburgh recorded both the highest average at £260,647 a rise of 21.4% and the highest volume of sales, with 2,123 properties sold.