The most affordable places for first time buyers in Blackburn

The most affordable places for first time buyers in Blackburn

By Property News Team

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Considering buying your first home in the historic town of Blackburn? Find out where to head for the most affordable options.

Taking your first step on the property ladder in Blackburn? Here at Zoopla, we have data that you might find useful.

It looks at average house prices across the UK by postcode and estimates how much a first-timer would need to earn and have as a deposit to buy there.

We've summarised this information in the map below. It shows what income you would need to buy a two- to three-bedroom property in various postcode areas in Blackburn and the surrounding area – in short the greener, the better.

Map showing first time buyer affordability in Blackburn

(Click on map for larger version)

Quick pointers for first time buyers in Blackburn

  • The average first time buyer property (a two- to three-bedroom house) in Blackburn and the surrounding area costs £101,557 with the average deposit required standing at £13,365 and the average income required from a first time buyer household of £22,048.
  • The most affordable Blackburn postcode is BB9, which includes Nelson, Barrowford, Blacko, Brierfield, Higherford and Roughlee. Here, the average first time buyer property costs £71,095, requiring a deposit of £9,356 and a household income of £15,435.
  • If you’re looking for a cost-effective option in a convenient location closer to the centre of Blackburn, try BB2, which contains the west of the town and areas such as Beardwood, Balderstone, Cherry Tree, Feniscowles, Mellor, Mill Hill, Osbaldeston, Pleasington and Witton. Prices for first time buyers in BB2 stand at an average of £98,676.
  • The town's football club, Blackburn Rovers, who play at Ewood Park and are managed by Tony Mowbray, won the Premier League title in 1995 are also located in BB2. 
  • Blackburn has the popular Mall Shopping Centre and excellent commuter links and transport links including plenty of well-used bus routes.
  • Blackburn’s most expensive postcode is BB7, which centres around the hilltop market town of Clitheroe in the heart of the Ribble Valley. If you want to step on to the property ladder in this semi rural location it will set you back £174,833 on average.
PostcodeAreaAverage house priceAverage deposit requiredAverage household income required
BB9Nelson, Barrowford, Blacko, Brierfield, Higherford, Roughlee£71,095£9,356£15,435
BB11Burnley (south and town centre), Dunnockshaw and Clowbridge, Hapton£72,570£9,550£15,755
BB10Burnley (east), Cliviger, Haggate, Harle Syke, Reedley, Worsthorne£83,689£11,013£18,169
BB5Accrington, Altham, Baxenden, Church, Clayton-le-Moors, Huncoat, Oswaldtwistle£88,389£11,632£19,189
BB3Darwen, Bank Fold, Eccleshill, Hoddlesden, Livesey, Lower Darwen, Pickup Bank, Tockholes£95,642£12,586£20,764
BB12Burnley (west), Barley, Fence, Hapton, Higham, Padiham, Read, Simonstone, Wheatley Lane£97,604£12,845£21,190
BB2Blackburn (west), Beardwood, Balderstone, Cherry Tree, Feniscowles, Mellor, Mill Hill, Osbaldeston, Pleasington, Witton£98,676£12,986£21,423
BB6Dinckley, Great Harwood, Langho£100,803£13,266£21,884
BB8Colne, Foulridge, Laneshaw Bridge, Trawden, Winewall, Wycoller£103,709£13,648£22,515
BB1Blackburn (east), Belthorn, Guide, Ramsgreave, Rishton, Salesbury, Shadsworth, Whitebirk, Wilpshire£104,326£13,729£22,649
BB18Barnoldswick, Bracewell and Brogden, Earby, Kelbrook, Salterforth, Sough£110,850£14,588£24,065
BB4Acre, Cowpe, Crawshawbooth, Haslingden, Helmshore, Rawtenstall, Rossendale, Waterfoot£118,055£15,536£25,630
BB7Clitheroe, Downham, Dunsop Bridge, Sawley, Slaidburn, Waddington, Whitewel£174,833£23,008£37,956

How have we calculated it?

We've looked at the average price of two- and three-bedroom homes – the most common types of property purchase for first time buyers in Blackburn.

We've then taken the average mortgage advance from the typical mortgage provider in the region and worked out the average deposit and salary required for the loan (based on four times' salary).

How can I afford a home as a first time buyer?

Building as big a deposit as possible is the first step. This allows you to borrow a lower percentage of the value of the property and access better mortgage rates.

Aim for a minimum 10% deposit. It is possible to put down less in some cases, but this means a less favourable mortgage rate and higher monthly mortgage repayments.

If you are struggling to raise a deposit, check out Help to Buy where the Government will lend you up to 20% of the purchase price interest-free for the first five years. Another option is shared ownership where you purchase a percentage of the property and pay an affordable rent on the remainder.

Provided your credit score is in good order and your monthly outgoings do not limit your ability to repay a suitable mortgage, banks and building societies will lend up to around four times your salary.

If you are buying as a couple, then combining your incomes will mean you can borrow more. 

It's worth seeking mortgage advice from a mortgage advisor and checking out an instant online quote of what rate you might be able to achieve from a range of mortgage lenders on a comparison website.

Don’t forget that when buying a home there will be other costs such as a fixed fee for a licensed conveyancer and moving costs. The good news is that stamp duty land tax is waived for first time buyers on the first £300,000 of the purchase.

For more help purchasing your first home, read our first time buyers' guides.

First time buyer affordability in the UK 

If you're prepared to cast your search further afield still, then our first time buyer affordability map of the UK (below) might help you find more affordable alternatives.

But remember that, while the UK map might prove a helpful overview, in practice, UK property markets operate on a hyper-local level.

This means that researching cities down to even a street-by-street level will give you the best chance of getting the best value property. 

Map showing affordable housing in the UK for first-time buyers

Full methodology: House prices taken from a subset of Zoopla-partner Hometrack's stock valuation database (one-to-two beds for London and two-to-three bedrooms for rest of UK). Median price calculated as of June 2018. Median advance taken by region (c75% for London, c85% outside of London) from UK Finance. Term of Mortgage: 25 years. Interest rate: 2.00%. Loan to income ratio: 4.0. Earnings required for affordability is greater of those required to satisfy loan-to-income threshold or income required to service the mortgage.

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