Burnley is Best Value for Property

Burnley is the best value place in the UK to buy property, according to average wage and house prices in the town.

The research was conducted by estate agency eMoov.co.uk, and compared Land Registry house price data with local wage statistics from the ONS.

With an average house price of £80,605, just 3.43 times the average wage of £23,500, Burnley is home to the smallest gap between the cost of living and the available earnings on offer.

The average UK house price is a little over six times the average wage.

Howard Baker, Burnley councillor and estate agent, said:

"It was always the case that buyers could get a mortgage for three and a half times their salary.

"This is obviously still the case in Burnley which is a good thing. Prices are affordable. Wages are not the best in the country, but at the end of the day it's all relative – it's about what you can buy with your money.

"The main difference now is that it's up to the seller to spend money on their houses because buyers have to put most of their money on a larger deposit."

If you are buying or selling, call our team for a free, no obligation conveyancing quote. Speak to us today on 01282 432 141.

Eric H Smith Solicitors

Conveyancing & Property