A town in East Lancashire has been named the cheapest for first-time buyers - and the only one with a starting price below £100,000 in the whole country.

According to research by Which?, the consumer reviewer, Burnley is the cheapest town in the UK for first time buyers to purchase property.

Figures reveal an average price of £93,085 for a first-time buyer.

Five per cent and 10 per cent deposits on these types of properties range from £4,654 and £9,309 respectively.

Sam Richardson, deputy editor of Which? Money, said: “When it comes to buying your first home, knowing the deposit needed for the average property in your area is a vital first step in understanding how much you need to save.

"Once you know it, you can create a budget and start putting money away if you haven't yet got enough. 

"The Lifetime ISA can be a great account to save into. Your savings are tax-free, and you could also get a government bonus of 25 per cent on your savings to help you buy your first property.

"Keep in mind the deposit isn't the only hurdle you'll face to get a mortgage. Talking to an independent mortgage broker can help you understand exactly how much you can borrow."

Data from properties in Blackburn with Darwen was also listed, at an average first-time buyer price of £125,117.

Five per cent and 10 per cent deposits on these types of properties range from £6,256 and £12,512 respectively.

Earlier this year, homeowners in Blackburn with Darwen were dealt another boost at the end of 2023 as house prices rose again last December.

In Burnley, average house prices rose 0.6 per cent month on month in December, however the annual picture is much starker.