IF you are on the market for an affordable property, Blackburn is a great place to start your search.

According to Zoopla, the average price paid for a house in Blackburn is £140,653 which is 18 per cent lower than the average price paid in Lancashire as whole.

Right now, there are some bargain properties for sale in the town and in Blackburn alone you can buy a house for as little as £37,000.

However, have you ever been curious about how Blackburn’s property prices compare to London’s?

Using data from Zoopla, we can compare house a flat prices to see just how big the price gap is between London and Blackburn.

House prices

According to Zoopla, the average price paid for a house in London is £693,392- which is a whopping 392 per cent higher than the average price paid in Blackburn.

For £145,000 in Blackburn you could get you a two bed house in Blackburn.

For the exact same price, you could pay for a parking spot in London.

What you get for £145,000 in Blackburn compared to London (Photo: Zoopla/Hunters/Foxtons)

As expected, detached houses are the most expensive property to buy and the average price paid in Blackburn (in the last 12 months) is £258,278.

If you think this figure is high, you should see London’s as it appears only millionaires can afford a detached house in this city.

The average price paid for a detached home in London was an eye-watering £1,111,126.

However, the average value of a detached home is 8.8  per cent higher than the price paid, compare to Blackburn’s 3.8 per cent.

In both cities a terraced house has a higher value than a semi-detached house (when compared to the average price paid) so if you are looking for value for money, it might be better to invest in a terraced property.
 

Flat Prices

In Blackburn, the average value of a flat is much higher than a terraced house (14 per cent).

Flat value far exceeds the average price paid in the last 12 months (27.3 per cent).

However, this is not the case in London.

Flats are the least valuable type of property to own and they are also the cheapest to buy.

However, this doesn’t mean they are any more affordable for the average person.

The average price paid for a London flat in the last 12 months was £522,916- which is a whopping 523 per cent higher than the price paid in Blackburn.

Rental prices

Renting is a great option if you don’t want to commit to a house or cough up your savings for a heft deposit- but how do Blackburn’s rental prices compare to London’s.

In Blackburn, the average rental price for a house or flat is £546 per month.

This figure is reasonable in comparison to London’s jaw-dropping £2604 per month.

Renting a house or a flat? In Blackburn, the asking prices are similar with house slightly more expensive.

However, in London the rental price of a flat far exceeds a house especially as the number of rooms increases.

In London, a three bedroom house will cost £3124pcm to rent compare the £3993pcm flat.  

The most expensive streets


We have already written about some of the most expensive streets in and around Blackburn and the cost of buying a property there.

According to Zoopla, the highest value street in Blackburn is Kenyon Lane, Dinckley which has an average property value of £942,036.

Some homes on this street are valued much higher- one was sold for £1.2m in 2011 and has an upper estimated value of £1.82.

While £942,036 is impressive, this figure wouldn’t even make the top five list in London.

The highest value street in London is Kingston upon Thames which has an estimated property value of £2,748,418.

Did any of these figures and comparisons shock you?