AVERAGE house prices in Blackburn with Darwen have risen more than anywhere else in England according to new figures.
Land Registry figures show that sales in the borough between July and September rose by an average of 40 per cent across all types of property. The average house price is now £90,000.
Estate agents have attributed the increase to people from outside the region coming here to live and property investors buying houses to rent to others.
According to one estate agent, young couples and other first time buyers are coming from areas like Preston where house prices can be around £20,000 dearer.
Mike Shorrock, a director at Jacqueline Michael and Co estate agents, Preston New Road, Blackburn, said: "I think because prices were so low initially a lot of investors have been coming from different parts of the country and have been investing in bricks and mortar rather than a pension. Of course this has not helped the first time buyer but Blackburn with Darwen is a real hotspot at the minute. We have had a lot of people coming from Preston to live because the houses are £10,000 to £20,000 cheaper here. Because of the good motorway links they are not that far away from home."
Mr Shorrock said that Mill Hill, Livesey and Revidge were the most popular areas.
Karl Baxter, of Hampshire and Helm estate agents, Duckworth Street Darwen, said: "Blackburn with Darwen has seen house prices rise consistently for the last two and-a-half years. Throughout the last six months the area has still seen rises where other areas have slowed down.
"Forty per cent does seem an optimistic figure. I would probably estimate that prices have risen around 25 per cent since the start of the year.
"Sometimes there is disparity in the figures because it may be the case that a lot of homes have been bought at a high value in that particular period.
"But prices have still been on the rise since July.
"We have seen a really buoyant house market throughout the year. Talking with my colleagues in other areas they say they have not seen the kind of rises we have had here.
"There are two reasons for the increase and these are buyers coming from out of town to live in the area, when they used to be typically from the local area, and investors buying houses to rent out to people.
"Obviously the more buyers coming to the region the more house prices will rise."
The average house price in England and Wales for the quarter was £187,971, an annual increase of 16.27 per cent.
The volume of sales also increased by 6.35 per cent from 290,637 in 2003 to 309,101 for the same period in 2004.
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