Four Burnley streets ranked ‘most affordable’ in England

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Burnley is in the bargain basement for home hunters.

According to a survey by Lloyds Bank four streets have been ranked among the top five most affordable streets in England and Wales.

Angle Street was named the cheapest street, with some homes in the area costing just £32,400 in 2011.

Elmwood Street, Spencer Street and Colville Street made it into the top five most affordable streets with average property prices of less than £40,000. Fernhill in Mountain Ash, near Merthyr Tydfil, Wales, was ranked the second cheapest street - with homes averaging £32,700.

More recent figures, reflecting prices from April to June 2013, show Burnley registered a -7.2% drop in house prices on the previous year, and that the market was static. The UK house price data set covers the whole property market. It recorded 234 sales in Burnley, a drop of - 0.3%.

The average price paid for a house was £84,067: detached sold for around £184,360, semis for £106,100, terrace houses for £58,500 and flats for £63,700.

In neighbouring Pendle, the cost of a terrace house was just over £76,000, in Hyndburn £74,700 and in Rossendale £98,200.

Recent Office for National Statistics figures showed that house prices in London rose by 12% year-on-year in October, pushing the typical house value to £437,000. The Bishops Avenue in Hampstead was dubbed ‘billionaires’ row’ with average house price of £6.2m.