Burnley house prices continue to rise with the overall average now £112,000

House prices increased by 1.3% in Burnley in February, new figures show
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The boost contributes to the longer-term trend, which has seen property prices in the area achieve 14.8% annual growth.

The average Burnley house price in February was £112,088, Land Registry figures show – a 1.3% increase on January.

Burnley house prices increased by 1.3% in FebruaryBurnley house prices increased by 1.3% in February
Burnley house prices increased by 1.3% in February
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Over the month, the picture was similar to that across the North-West, where prices increased 1.6%, but Burnley outperformed the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Burnley rose by 14.8% (£14,000) – putting the area sixth among the North-West’s 39 local authorities with price data for annual growth.

The best annual growth in the region was in Hyndburn, where property prices increased on average by 19.2%, to £124,000. At the other end of the scale, properties in Fylde gained just 3.7% in value, giving an average price of £218,000.

Winners and Losers

Owners of flats saw the biggest improvement in property prices in Burnley in February – they increased 1.7%, to £72,892 on average. Over the last year, prices rose by 11.8%.

Among other types of property:

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Detached: up 1.6% monthly; up 18.1% annually; £217,002 average

Semi-detached: up 1.2% monthly; up 14.8% annually; £137,520 average

Terraced: up 1.3% monthly; up 14.1% annually; £94,505 average

First steps on the property ladder

First-time buyers in Burnley spent an average of £101,000 on their property – £13,000 more than a year ago, and £31,000 more than in February 2017.

By comparison, former owner-occupiers paid £126,000 on average in February – 24.1% more than first-time buyers.

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