Burnley – What to look for in houses for sale?

Burnley can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Burnley.

On top of this, keep reading for detailed information on the demographics of Burnley in Lancashire. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.

In Burnley, what is the asking price in general for a house for sale?

When investors make offers for houses for sale in Burnley, the average price asked by the homeowners works out to be £110,227.

In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.

Any house that looks like it is overpriced for the number of bedrooms it has in Burnley is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.

Average price of houses for sale in Burnley

Average asking price (1 bed)	no relevant data for this city
Average asking price (2 bed)	£67,632
Average asking price (3 bed)	£148,896
Average asking price (4 bed)	£219,991
Average asking price (5 bed)	no relevant data for this city

Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£0) for houses for sale with this table to get a good idea as to whether Burnley is the right area to buy a house in for you.

In Burnley, what do houses for sale tend to sell for?

In Burnley, the average sale price of a house for sale is in fact £94,073. This is dependent on the 10 year population growth of Burnley being 3%. Growing populations are more likely to inflate the prices of houses for sale in the city of Burnley.

Housing category	Total final sale price
Aerage sold price (detached)	£215,327
Aerage sold price (semi-detached)	£131,037
Aerage sold price (terraced)	£59,996
Aerage sold price (flat)	£70,199

The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Burnley.

Housing category	Sale price per square foot
Aerage sold price/sqft	£970
Aerage sold price/sqft (new build)	£1,370
Aerage sold price/sqft (old stock)	£870

Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.

On average, the cost of a house for sale per square foot works out to be £970. This means if you are just looking out the houses sold in Burnley in general and didn’t take into consideration the type of build. For example, a new build.

In Burnley, what are the rental yields?

Are there more or fewer houses being built in Burnley?

Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.

Take a look at the table below for Burnley that shows the growth in recent years.

	1 year	3 years	5 years
Burnley growth rate	9%	28%	41%

High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Burnley is important.

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Burnley. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Burnley.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Lancashire), a regional level (North West) and finally on the level of the city talked about in this article, Burnley.

	Average Yield	Average Asking rent	Turnover (rental)	Turnover (sale)
Burnley	5.0%	£460	41%	19.0%
Lancashire	4.25%	£691	100.27%	17.49%
North West	4.36%	£808	120.36%	20.19%

You may also find it useful to compare the data above to the number of properties sold per month Burnley experiences. This figure for house sales per month is 20. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

Are there any important statistics about the population of Burnley?

What’s the crime rate in Burnley?

In Burnley, for every 1000 people, there is currently a crime rate of 328. This can be compared to the national average of 79.52 for every 1000 people.

Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.

Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (328 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.

If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.

Are the deprivation levels of the UK any different to Burnley?

Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Burnley is 38%.

What salary does the community in Burnley take home?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£33,500 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 12% for Burnley.

Do the people of Burnley get to enjoy green space?

In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Burnley, the city has 34.6 per 1000 residents.

This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Burnley.

What does the population of Burnley look like?

The city of Burnley has a total population of 22,417. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Burnley is growing.

A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.

Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.

The five year population change of Burnley

Over time, in the last five years, the population of the city of Burnley has changed by 2%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here

In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 2% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.

What is the difference in population over the last 10 years in Burnley?

In the last 10 years, there has been a shift in the population of 3%.

Comparing this to the 5 year figure of Burnley can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.

New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.

A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.

Burnley within Lancashire is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Burnley will be looked at by comparing it to the local region, as well as comparing it to the wider region too (North West). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.

This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Burnley.

In Burnley, what is the social grade score?

The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.

The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.

The number of people in Burnley in grades A or B which are the highest skilled roles in the country is 12%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £33,500 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 12%.

How educated are the people in Burnley?

In the city of Burnley, 16% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Burnley is £33,500.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

Invest in houses for sale in Burnley with the right professional advice

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

• Banks – The ones that can lend you the money you need for the house for sale
• Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
• Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
• Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
• Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
• EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.

A house for sale appropriate to your needs

Find here below a list of criteria that we suggest you consider before looking for houses for sale in Burnley

• affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)

• Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.

• Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.

• Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.

• EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.

• Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase

• Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?

• Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.

• Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.

House for sale in the same UK region

Examine this short list of cities belonging to North West, the same region where Burnley is located.

• Bruche in North West
• Carrbrook in North West
• Bank-Fold in North West
• Chapel-House in North West
• Little-Bollington in North West

If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.