Burnley house prices rose by 8% in April
House prices leapt by 8% in Burnley in April, new figures show.
The significant boost contributes to the longer-term trend, which has seen property prices in the area achieve 20.2% annual growth.
The average Burnley house price in April was £105,618, Land Registry figures show – an 8% increase on March.
Over the month, the picture was better than that across the North-West, where prices decreased 2.6%, and Burnley outperformed the 1.9% drop for the UK as a whole.
Over the last year, the average sale price of property in Burnley rose by £18,000 – putting the area fifth among the North-West’s 43 local authorities for annual growth.
The best annual growth in the region was in Eden, where property prices increased on average by 24.1%, to £230,000. At the other end of the scale, properties in Carlisle gained 3.2% in value, giving an average price of £142,000.
Owners of terraced houses saw the biggest improvement in property prices in Burnley in April – they increased 8.1%, to £89,487 on average. Over the last year, prices rose by 20.2%.
Among other types of property:
Detached: up 7.8% monthly; up 20.8% annually; £199,551 average
Semi-detached: up 7.8% monthly; up 20.1% annually; £129,845 average
Flats: up 7.8% monthly; up 16.7% annually; £70,029 average
First steps on the property ladder
First-time buyers in Burnley spent an average of £96,000 on their property – £16,000 more than a year ago, and £31,000 more than in April 2016.By comparison, former owner-occupiers paid £118,000 on average in April – 23.5% more than first-time buyers.