£10k to buy a house in Burnley (From Burnley and Pendle Citizen)

£10k to buy a house in Burnley

12:20pm Saturday 6th February 2010

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By Alex Willmott »

SOME of the cheapest houses in Burnley are set to go under the hammer for as little as £10,000.

Sixteen properties will be sold off at the Eddisons property auction, in Manchester. The sale reaffirms Burnley’s position as one of the cheapest places to buy a house in the country.

One property in Pine Street has a reserve price of £10,000 – the equivalent of a week’s wages for Burnley goalkeeper Brian Jensen.

Other properties are located in Burnley Road, Brierfield, and Randall Street, Burnley.

Coun Gary Frayling, who represents Bank Hall Ward, said: “I have been down to the house in Pine Street and it would be a good investment for a potential buyer.

“The back streets are spotless and the council has spent a lot of money to do that area up.

“There are three or four vacant properties, and some reports of anti-social behaviour but, all in all, it is a good area.” The one, two and three-bedroom properties are either vacant, or have sitting tenants.

Tony Webber, of Eddisons, said: “2009 was a good year and there are now clear signs of a recovery in the property investment market.

“With interest rates remaining low, giving paltry returns on tradit-ional investments, I anticipate investors will once again turn to sensibly-priced property as their investment vehicle of choice.

“These properties have been very much priced to sell and with, or without, tenants represent an exceptional investment opportunity.”

The two-day auction will start at the Fairways Lodge and Leisure Club, Prestwich, on February 17, at 1pm.

View the full catalogue on line at www.eddisons.com

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