Dunfermline ‘has highest house price growth’

Dunfermline has seen the highest house price growth in Scotland on a per square metre basis over the past five years — a roughly 20% rise from £1,185 per metre square in 2012 to £1,416 in 2017.

New research from Bank of Scotland shows Dunfermline is closely followed by Dalkeith (19%), Motherwell (18%), Glasgow (18%), Alloa (18%) and Edinburgh (17%).

However, the research shows that Edinburgh is still the most expensive property location on a per square metre basis in Scotland.

Edinburgh’s £2,492 per square metre compares to the Scottish average of £1,529 — and Edinburgh is the only place in Scotland to have an average house price per square metre higher than the British average of £2,260.

Over the past 20 years, house prices per square metre have risen by 402% in Greater London and 208% in Edinburgh — compared with an increase of 147% across the whole of Scotland.

Graham Blair, mortgages director, Bank of Scotland, said: “House price per square metre can be a useful measure for house price comparison as it helps to adjust for differences in the size and type of properties between locations.

“Edinburgh and the east coast are more expensive than western and central areas, however we can see a number of notable pockets emerging in the Highlands.

“There is a clear gap between southern England, particularly London, and the rest of Britain over the past 20 years – a trend that has continued during the last five years.”