Shepherd Chartered Surveyors says that a survey identifying Glenrothes as the most popular affordable town in Britain for those looking to buy a family home highlights the marked contrast in values within Fife’s housing market.
The survey reveals that those hoping to buy in Glenrothes will need to pay an average of £540 in monthly mortgage payments for a three-bedroom home, based on an average value of £136,900.
Leven came eighth in the table of top 10 most popular affordable towns in the UK, with those hoping to buy there needing to pay an average of £650 in monthly mortgage payments for a three-bedroom home, based on an average value of £164,600, according to Zoopla, which compiled the research.
Paul Duncan, partner in Shepherd Chartered Surveyors’ Kirkcaldy office, said that while he is not surprised by the findings that Glenrothes and Leven are among the most popular affordable towns in Britain for those looking to buy a family home, both towns have seen a rise in residential property values over the last year.
“The Levenmouth rail link five-mile branch line railway connecting Leven and other settlements in the Levenmouth conurbation with Thornton which joins the Fife Circle Line, reopened a year ago with direct trains from Edinburgh and this should lead to more growth in Leven,” he said.
“For many years Leven was an area that experienced a slow growth in property values, but more recently there has been an uplift in the housing market there.
“And the housing market in Glenrothes has also been improving over the last 12 months with extensive new build activity right in the centre of the town which involves several national housebuilders.”
According to Duncan, sectors of Fife’s housing market are now largely influenced by Edinburgh, with the spin-off market from the capital in particular influencing demand for housing in West Fife.
“The housing market in West Fife and Kinross, particularly locations around the M90 corridor, such as Dunfermline and Kinross, has been very buoyant,” he said.
“Indeed, West Fife saw growth in housing values of around 9 to 10% over the last 12 months, some of the highest growth rates in Scotland. A recent report from the ESPC confirmed the average price of a home in West Fife and Kinross was now a considerable £230,000, and that the Edinburgh spin-off effect should now move more towards the centre of Fife, and positively influence the markets of Kirkcaldy, Glenrothes and Leven.”
Duncan says that this latest survey highlights the fact that the Fife’s housing market comprises various sub-markets.
“There are some striking disparities in housing values throughout Fife,” he said.
“For example, a decent ex-council two-bedroom flat in Leven will cost circa £85k, but if you travel 15 miles to St Andrews, the same flat will almost triple in value to circa £240,000!”
ENDS
For further information please contact Paul Duncan on 01592 205442.
Issued on behalf of Shepherd Chartered Surveyors by Liquorice Media tel 0141 332 4935 www.liquorice-media.com
Date: 14 May25