Burnley started off as a market-oriented town and is located in Lancashire, England. It has held market for over 700 years and through strategic policies, has achieved a healthy manufacturing sector. It was awarded the Most Enterprising Area in the United Kingdom award in the year 2013. The name Burnley is widely believed to be derived from “Brun Lea” which means “meadow by the River Brun.”
Burnley Town has an area of 7.3 square miles (18.9 square kilometers) and boasts a population in the range of 81,548 people. A recently opened train line has made Burnley more widely accessible and convenient. Last year, a vetted study determined Burnley had the best House Price Index on average in the United Kingdom. Burnley has also been a prime spot to make profits by flipping a house. This is the practice of buying run-down properties at a low price, making improvements and selling them at a markup.
Availability of houses for sale, a high demand for housing, outside and local investment has supported the boom in the landlord niche. Affordable prices draw some level of immigration to the relatively small town as well. This has the disadvantage that it further congests an already saturated economic climate. Demand has driven up prices as well and there seems to be no end in sight to that. There have been ambitious plans by the government to expand housing but they have run into problems and no feasible solution is on the ground as yet.