Homeowners in Blackburn sold their properties for 3 per cent less than the asking price last year - however a local estate agent has not seen the same picture.

People who sold their house in a BB1 postcode lost an average of 3.58 per cent of the asking price between July 2020 and July 2021.

The average price of 120 homes sold in the postcode was £162,719 however homes sold for an average of £157,089 - a price drop of £5,630.

Despite this, estate agent Entwistle Green has seen a different story, with assistant Manager of the Blackburn branch, Julie Bracewell, saying that most of their homes in Blackburn have sold above the asking price over the last year.

Julie said: "We are not seeing the same thing, all but one of our last 50 houses in BB1 have sold for more than the asking price.

"I think the positive is that they are still many buyers out there and year on year every price has increased on average.

"The struggles on price could be that some of the smaller properties are coming on higher than they should be and people are not getting the asking price."

In BB12 postcodes in Burnley, homeowners lost an average of £6,423, or 3.51 per cent while trying to sell their homes.

In Rossendale, houses sold for £6,240 less than their asking price, or 3.06 per cent, with homes put on the market for £210,263 selling for £204,023.

The lowest reduction in price in East Lancashire was seen in the BB3 postcode of Darwen where 92 home sellers let their homes go for an average of 2.18 per cent lower than the asking price - with houses being put on the market for an average of £145,508 and selling for an average of £142,409.

The data, revealed by firm Property Solvers was based on 1,210 property transactions between July 2020 and July 2021.

The firm tracked the monthly updated asking price and the sold price, logging the differences between asking prices on Rightmove and their actual sold prices lodged at the HM Land Registry.

The data effectively monitors the entire house sale process from initial listing, viewings, negotiation, offers, agreement through to the survey process, conveyancing, exchange and finally completion.