Area Guide For Burnley

Burnley is a market town in Lancashire, England, with a population of around 73,500. It is 21 miles (34 km) north of Manchester and 25 miles (40 km) east of Preston, at the confluence of the River Calder and River Brun. The town began to develop in the early medieval period as a number of farming hamlets surrounded by manor houses and royal forests, gaining a market over 700 years ago. During the Industrial Revolution, it became one of Lancashire's most prominent mill towns. At its peak, it was one of the world's largest producers of cotton cloth, and a major centre of engineering. Burnley now has a post-industrial economy and landscape, and is increasingly a dormitory town for Manchester, Leeds and the M65 corridor. The name Burnley is believed to have been derived from Brun Lea meaning 'meadow by the River Brun'. Various other spellings have been used: Bronley (1241), Brunley (1251) and commonly Brumleye (1294) Stone Age flint tools and weapons have been found on the moors around the town, as have numerous tumuli, stone circles, and some hill forts (see: Castercliff Camp, which dates from around 600 BC). Also, modern-day Back Lane, Sump Hall Lane and Noggarth Rd follow the route


Burnley Map

Estimated Price: £119,262
Average Asking Price: £135,933
Price change in last one year: £9,891
Average Price Paid: £101,857
Average Rent Rates: £476


Property Prices Breakdown in Burnley

Average Price for property in Burnley is around £119,262 which varies based on type of property you are interested in and ranges from £236,196 for detached house to around £136,938 for semi-detached. Similarly terraced house is around £78,387 and a flat is worth £93,796. Values have been changing and have risen £1,362 in last 3 months alone. Similar historical trend can be observed in price changes e.g. prices changed £4,801 in last 6 months, £9,891 in last 1 year, £12,119 in last 2 years, £14,421 in last 3 years, £14,032 in last 4 years and £10,606 in last 5 years.

Currently average asking price of a property in Burnley is around £135,933 based on approximately 1,156 properties for sale. Same is the case with rental options based on 189 properties up for rent, average asking rent is around £476 per month.

Estimated property value in Burnley is £119,262. Average asking price is £135,933 while average price paid is £105,233 which is up by £9,891 and Avg. asking rent £476.Based on an Online Survey

Buyers are willing to pay high dollar prices to grab these properties because of the recent trend in real estate investment especially in Burnley area. In last 1 year alone average price buyer paid is around £105,233 based on approximately 1,156 sales in Burnley area alone. If you compare it to last 3 years sales of 3,126 properties where buyers paid around £102,748. It has been same for some time now for e.g. if you take an average of amount paid in last 5 years, it comes to around £101,857 for 5,061 and average amount paid for purchase of approx. 7,315 properties sold in last 7 years comes to about £102,393 per sale.


Properties For Sale in Burnley


Breakdown of asking prices for homes of different sizes show that price varies clearly based on no of bedrooms and type of house. Asking price for a house with 1 bedroom is around £167,619, £72,626 for a 2 bedroom house, £131,458 for a 3 bedroom house, £233,680 for a 4 bedroom house and £343,500 for a 5 bedroom house. For a flat similarly the prices varies from £60,422 for a single bedroom to £72,667 for a 2 bedroom Flat. To sum up the asking prices for properties in Burnley it comes to around average £110,867 for 1 bedroom property, £72,630 for 2 bedroom, £131,458 for 3 bedroom, £233,680 for 4 bedroom and £343,500 for a 5 bedroom property.

Rent per calendar month varies similarly based on type and size of the house. If you look at the rents per month for houses alone it can vary from £423 for 1 bedroom to £382 for 2 bedroom, £501 for 3 bedroom and £556 for 4 bedroom. But if you are interested in renting a 1 bedroom flat then rent per month can be around £359. As the no. of bedroom increase so will the rent e.g. for a 2 bedroom flat it will be around £417. You should be generally be expecting around average £389 rent per month for single bedroom property, £386 for 2 bedroom, £501 for 3 bedroom and approximately £556 for 4 bedroom property in Burnley area.

Popular Houses in Burnley

Disclaimer : Location real estate estimates and values are based on House price index background data and Sales data provided by United Kingdom Land registry Records available as public records from their website. This information is updated monthly on our website and may not reflect all public transactions. This information is based on estimated calculation generated from our developed algorithms. We are striving to make this information as accurate and useful as possible. This data covers the transactions received at Land Registry in the period 1/1/1995 to 9/1/2014. © Crown copyright 2014. Data produced by Land Registry © Crown copyright 2014.

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