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April 2024

Stirling & Clackmannan Property POV

The market has been witnessing a cautious yet optimistic outlook as of early 2024. The market’s resilience is also supported by an uptick in demand, as indicated by a majority of surveyors reporting both increasing supply and demand for the first time since March 2021. Consumer confidence has improved, reaching a two-year high in January, bolstered by diminishing fears of a significant recession and a continuous downward trend in inflation. This improved sentiment has led to a 23% increase in sales agreed in January compared to the same period last year.

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.

Rental markets have not been left unaffected. The annual rental growth across the UK slowed to 8.3% in 2023, down from 8.8% in the previous year. Despite this deceleration, rental growth remains historically high, suggesting a market that continues to face affordability pressures.

Average price is£276,595

in Stirling & Clackmannan

Average rent is£975 pcm

in Stirling & Clackmannan

Most in demand is3 bed end terrace

or semi-detached house

April Highlights

3 Bedroom End Terrace

A beautifully renovated three-bedroom end terrace house on the charming Kent Road in Alloa, offering a perfect blend of modern amenities and comfortable living spaces.

4 bedroom, detached house with conservatory

This exquisite four-bedroom detached house promises a harmonious blend of comfort, style and spaciousness, making it an ideal sanctuary for families or those who cherish space and tranquillity.

Success Story

We marketed the 2 bedroom, 1st floor flat at 24 Harbour Way, Alloa on Monday 1st April and had an offer, above the home report value, agreed by Wednesday 3rd April.

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