BURNLEY’S cheapest house has been sold - for £5,000 less than its asking price.

Estate agents have agreed a sale on the property in Pritchard Street for £10,000, six months after it was put on the market for ‘offers in the region of £15,000’.

Pritchard Street, Burnley

John Dinsdale, whose Parker Lane-based agency has lined up the deal, said a ‘builder-investor’ had put in an offer that had been accepted and the sale should go through in the next few days.

The house, in Burnley’s Trinity area, had been described as being in need of ‘comprehensive repair and renovation’ before someone could move in.

Mr Dinsdale said: “The Pritchard Street house needs a lot of work but £10,000 is a good price - most cars cost more than that.

“Three years ago you could not get a house in Burnley for less than £35,000 because everyone was buying property. Now it has gone completely the other way.

“However, I think the price paid here is about as low as you can go - the only was is up.”

The Lancashire Telegraph revealed in April that the Pritchard Street home was the least expensive house in Burnley, a town frequently named the cheap-property capital of Britain.

But now it is not the only house which could be bought for less than £15,000.

Mr Dinsdale has also agreed sales on a boarded-up property in Hunslet Street, Bank Hall, for £10,000 and a house in nearby Sandhurst Street for £13,500.

He added: “These type of properties appeal to investors who do all the structural and renovation work and then sell them on at a profit.”

Earlier this year, a survey by property website Mouseprice found that 12 of the 20 cheapest streets in Britain were in Burnley.