House prices fall in Chorley

The statistics from the Land Registry show that the average cost of buying a home fell from £174,293, to £173,300.

Elsewhere, over the same period the sale value of Ribble Valley homes fell by 3.2 per cent to £214,323 after a 5.5 per cent rise in the previous 12 months.

In Pendle there was a fall of 5.5 per cent to £96,590, a stark contrast to the previous year to May 2018’s 8.7 per cent rise.

However, it is a different situation elsewhere in East Lancashire as in Blackburn with Darwen is continuing to rise steadily.

In the 12 months to May the average property price in the borough rose from by 1.2 per cent from £112,380 to £113,733 compared to a rise in the previous year of 3.2 per cent.

The increases represent a major recovery since 2007 to 2012 during which home sale values in Blackburn with Darwen crashed by 26.2 per cent.

Meanwhile price in Burnley have shot up by 10 per cent over 12 months as property values in the Ribble Valley and Pendle fell, new government figures reveal.

Their figures rose to £86,204 in May compared to a 1.1 per in the 12 months to May 2018.

In Hyndburn there was a 0.9 per cent rise in the average property price to £93,574 while in Rossendale the increase was four per cent to £137,345.

Blackburn with Darwen Council regeneration boss Cllr Phil Riley said: “It is good to see a steady rise in property prices across the borough.

“Clearly house prices are fluctuating across East Lancashire but the figures for Blackburn with Darwen reflect what the council and private developers have been doing to improve the quality of the housing stock.”

Burnley Liberal Democrat and estate agent, Cllr Howard Baker said: “The figure reflects the fact that housing turnover in the borough is down. More high-value houses at around £100,000 are coming on the market and fewer ones around £40,000 which affect s the average price.”

The Lancashire average increase was 1.4 per cent from £141,670 to £143,663, down from 3.1 per cent