A Lancashire estate agent has provided house price estimates based on how many tubs of Lurpak they would be worth.

Michael Bailey, based in Penwortham, put a post on social media stating how much the average house in a number of areas would be worth based on the price of a tub of the butter.

Prices of Lurpak have been shooting up in price since the cost of living crisis has hit, with some shops deciding to put security tags on the larger tubs of the butter, while others are charging upwards of £5 for a 500g tub.

At Asda - owned by Blackburn's Issa brothers - a 500g tub costs £5, with a 750g tub priced at £5.25.

In a humorous post on Facebook, Michael Bailey said: “With the cost-of-living crisis deepening, we're now offering valuations in tubs of Lurpak.

“If you're thinking of selling, you'll want to know what a realistic asking price will be.

“Now, alongside a monetary guide, we're also providing a comparison in tubs of Lurpak which, let's face it, may soon be worth more than gold the way prices of this Danish butter have risen lately.”

The estate agent went on to work out, based on average house prices in the last year using data from Rightmove, how many tubs of Lurpak your home could fetch when sold in the Preston areas.

He estimated that Penwortham homes would cost an average of 29,823 tubs, Fulwood homes an average of 29,106 tubs, properties in Ashton-on-Ribble would set you back an average of 19,968 tubs, a house in Leyland would cost 26,642 tubs, in Broughton the average property would be the same price as 37,745 rubs and in Goosnargh, 48,271 tubs.

He continued to joke that the valuations will change “as the cost of Lurpak continues to increase”.

Michael said: “We didn’t expect the post to blow up, but we hoped it might.

“Despite all the other good stuff we do, this post probably had the best interaction.”