HOUSE prices in an East Lancashire borough have had the smallest increase in the country, analysis has found.

On average house prices in Burnley rose by £19,639 in nine years, well below the national average of £92,466.

However Cllr Sue Graham, Burnley Council's cabinet member for regeneration and economic development, said the smaller increase was not a major concern for the borough.

Figures from estate agent Hamptons International showed 92.2 per cent of people who sold their homes this year did so for more than they paid for it, compared to 90 per cent in 2016. One in five, 18 per cent, of sellers doubled their money in 2017.

Sellers in London gained an average of £252,196, three times more than the average seller outside of the capital, at £76,367.

North East sellers were found to be least likely to make a profit, with just under 79 per cent doing so. And in a change from last year, sellers in the South East are now more likely to sell their home for a profit than those in London.

Cllr Graham said lower house prices were one of the many attractions to the borough.

She said: “You’ve got to look at these sort of figures as part of a bigger picture.

"We are the fastest growing part of Lancashire and we are creating jobs left right and centre.

“We’ve got the new Vision Park opening near UCLan, we’ve got Primark opening in the town centre in the spring. So we’ve got lots of jobs coming to the town and we’ve also got lower house prices.

“This is a great way to attract people to the borough and help boost its economy.

“You have to look at whether your house will be your home for a considerable period of time or not.

“Getting onto the ladder for the first time to get your new home is easier in Burnley because of our affordable houses.”

Areas outside of London to see large gains in house prices include Trafford in Greater Manchester, Harrogate in Yorkshire and Northumberland.

Johnny Morris, head of research at Hamptons International, said: “House prices have grown considerably over the nine years the average seller has owned their home.

“Many sellers will have added value by renovating, extending or developing but the bulk of their gains come from price growth.

"The London housing market has been cooler than the rest of the country in 2017, but London sellers still make the largest gains, by a long way. This year the average London seller bought their home nearly nine years ago and has seen its value rise by more than £250,000."