Burnley house prices dropped slightly in March
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 4.9% annual growth.
The average Burnley house price in March was £86,074, Land Registry figures show – a 0.1% decrease on February.
Over the month, the picture was similar to that across the North West, where prices increased 0.2%, and Burnley outperformed the 0.2% drop for the UK as a whole.
Over the last year, the average sale price of property in Burnley rose by £4,000 – putting the area 11th among the North West’s 39 local authorities for annual growth.
The best annual growth in the region was in Rossendale, where properties increased on average by 18.3%, to £158,000. At the other end of the scale, properties in Fylde dropped 8.7% in value, giving an average price of £172,000.
Owners of flats fared worst in Burnley in March – they dropped 0.5% in price, to £58,986 on average. But over the last year, prices rose by 2.8%.
First-time buyers in Burnley spent an average of £77,800 on their property – £3,600 more than a year ago, and £12,500 more than in March 2015.
By comparison, former owner-occupiers paid £96,200 on average in March – 23.6% more than first-time buyers.