In one town crowned the UK’s most affordable, buyers could snag a home for as little as £25,000. The Lancashire town was declared the cheapest place to live in the country, based on monthly pay, rent and house prices in a study by Investing Insiders.
According to the Office for National Statistics, the average house price was less than half the national average, at just £121,000 compared to £269,000 in May, and renters pay roughly £607 a month. Right now, the cheapest property listed on Rightmove is just £25,000. For the meagre sum, buyers would get a one-bedroom terraced house, something incomprehensible across the majority of the UK. However, as locals revealed, the affordability doesn’t signal a lack of job opportunities, amenities or natural beauty.
Its economy is rooted in engineering and manufacturing, a legacy of the Industrial Revolution, and today it’s home to thriving international firms, as Burnley Place brand manager Rachel Bayley explained.
She told the Express that despite houses being around 50% cheaper than the UK average, “the businesses we have in Burnley are incredible. The careers here are brilliant”.
She added: “University graduates, college graduates, we’ve seen a lot of them are now remaining in Burnley because it’s affordable to buy.”
The town is home to aerospace giants like Safran Nacelles, as well as technology firms like AMS Neve, which provides cinema technology and sound equipment for the likes of Ed Sheeran and Beyonce.
Ms Bayley acknowledged there’s a perception of Burnley among people who’ve never visited, but said “it’s absolutely thriving”, and was voted the UK’s second best recovering high street after Covid, thanks in part to its open-air style shopping centre.
She added: “You go in the town centre at lunch, it’s absolutely bustling.”
When we asked whether it would stay affordable given its appeal, Ms Bayley noted that prices have risen slightly in the past year, but remain far cheaper than nearby Manchester or Leeds.
According to the Office for National Statistics, the average house price in Burnley was up 4.4% from May 2024, which was higher than the North West’s 3.3% over the same period. Average prices in Manchester were £257,000 in May, a 3.2% annual rise.
With around 80% of the borough classed as rural, she said different areas offer different opportunities. Worsthorne, for example, she likened to the Cotswolds, with its traditional village square and stone-built houses set against the moors.
Cliviger, she added, is another sought-after spot, while Fence is popular with buyers, and Briarcliffe is known for its farmhouses.
A local estate agency agreed that Burnley is a great place to live while remaining “very affordable”, with the Ribble Valley just a short drive away and plenty of jobs in engineering and manufacturing.
Speaking to the Express, Gary Trappe of Entwistle Green Estate Agents said an influx of people had moved in after the pandemic, to enjoy the cheaper housing with direct links to Manchester in about 50 minutes, and Leeds in about an hour.
“It’s become a little bit of a (commuter) belt now for Manchester as that’s become so expensive,” he said. “We’re seeing the ripple effect coming out after Covid where people can work in hybrids and don’t need to go into the city centre every day of the week.”
However, he had seen rental prices have shot up by around 40% since before the pandemic, and said it’s now better to buy than rent in Burnley.
He added that house prices have risen slightly over the past 12 months, but said this was largely a nationwide trend, with the stamp duty threshold deadline at the end of March contributing to the increase.
Keith Jackson, who has lived in Burnley all his life, was just as complimentary about the area where he operates a family business, Whitfords Caravan Centre, set up by his father-in-law.
He agreed that housing is affordable and highlighted how many people now commute to nearby cities, noting that living and working in Manchester has become “astronomical”.
Asked if he enjoys living in Burnley, Mr Jackson said “definitely”, and pointed to Burnley’s green spaces, strong employment base and welcoming community.
“We’re one of the few towns in the country that are blessed with five parks. We’re gifted with that,” he said. “We should be proud of Burnley, really.”
He praised the friendly high street but admitted challenges remain, noting that high shop rents make things harder: “If people supported the town centre in places more, we’d be a lot better off still.”
He also highlighted recent investments, including numerous housing developments.
The town has seen major investment in both the centre and canal-side areas, including a multi-million-pound scheme along St James Street and the refurbishment of historic waterside buildings and derelict sites.
Looking ahead, there’s more development on the horizon, with a £200 million Burnley Town Centre and Canalside Masterplan.
As part of this, a new canalside university campus is set to be built by 2028, and a £6 million project is set to improve connectivity between the town centre and Burnley’s Premier League football ground.
However, prices remain much cheaper than in neighboring areas, and it has also not impacted the price of beer yet, which Mr Jackson told us still costs a cool £3 to £4.
