RESIDENTIAL property prices in Blackburn with Darwen are rising faster than the national average, Land Registry figures reveal.
The UK-wide body's latest House Price Index shows average cost of a home in the borough has risen by 3.7 per cent in the year to November 2018 compared to the national average of 2.6.
Paul Jones, managing director of developer Kingswood Homes, believes new-build housing is having the biggest impact on the borough's property market.
The firm is nearing the completion of the first phase of its 167 homes Green Hills development on Livesey Branch Road, designed by Wayne Hemingway.
Mr Jones said: “Across the North West, there has been an increase of 5.6 per cent in the average price of new-build properties, compared to 3.5 per cent rise in the price of older stock.
“As demand increases for new-build homes, prices will continue to rise and I expect the re-sale value of new homes will outgrow values of older housing stock.
“The figures reflect the feedback we get from buyers."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel