Scotland’s historic former capital, Dunfermline, has been crowned the UK’s best value city in a new ranking. Despite only gaining official city status in 2022 ahead of the late Queen’s Platinum Jubilee celebrations, the ancient Scottish settlement has outstripped major competitors including Leeds and Cardiff to clinch first place in The Telegraph’s value-for-money league table.

Research carried out by property experts Savills reveals Dunfermline as the most attractive and budget-friendly destination for young graduates grappling with today’s cost of living pressures. Newcastle, Salford, Leeds and Cardiff rounded out the top five most economical cities across the country. Dunfermline’s unique appeal lies in its combination of “well-paid jobs, comparatively low house prices, a favourable ratio of property costs to household income and somewhere which is teeming with culture and amenities”.

Whilst Aberdeen boasts slightly cheaper housing and a marginally better house price-to-income ratio, Dunfermline secured the top spot due to its thriving job market and vibrant cultural scene.

The study highlights Dunfermline’s prime location near Edinburgh, with trains transporting commuters to Scotland’s capital in just 32 minutes.

Despite being only a half-hour journey apart, properties in Dunfermline are on average over £133,000 cheaper than their counterparts in Edinburgh.

Savills’ research reveals that typical homes in the Fife city command £206,900, whilst average household earnings are £56,225. In contrast, the average house price in London last year was a staggering £723,132, compared to £346,683 across Great Britain.

Those considering a move to Dunfermline can anticipate beautiful woodlands encircling Pittencrieff Park, and just a five-minute journey from the city centre takes you to the adventurous Townhill Country Park and Town Loch – the national training hub for waterskiing and wakeboarding.

The area also boasts several wild swimming spots, including Aberdour Silver Sands Beach, as well as a bustling community of independent craft makers.

The former Art Deco fire station has been repurposed into Fire Station Creative, a lively arts centre hosting artists, printmakers and jewellers. New arrivals can also enjoy up-and-coming bands courtesy of the city’s vibrant open mic scene.

Historically, this ancient Scottish capital is the final resting place for some of Scotland’s most revered monarchs, including Robert the Bruce.

Local campaigner Michelle McWilliams, who was involved in the bid for city status, commented: “We were Europe’s fastest-growing town. Now we’re one of its most creative and historic small cities.”

London failed to make the top ten, with Lucian Cook, head of residential research for Savills, observing: “House prices are as high as eight times household incomes across 75 percent of the capital.”

Meanwhile, jobs website Adzuna disclosed that Leeds offers the best-paid employment prospects outside the capital.