According to Zoopla, property prices in Clackmannanshire rose 3.6% over the past year, ahead of the national average. The increase has added £5,000 to the typical home, with the average value now sitting at £142,800.
Mortgage rates have played a crucial role in shaping the current state of the market. Initially, lenders reduced rates to compete in a market of low activity, anticipating an early reduction in the Bank of England base rate. The base rate cut, now expected in May, is seen as a response to a weaker than previously expected economy in 2023 and a faster than anticipated fall in inflation.
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