By Tony Booth

Last year I picked the Lancashire town of Burnley as No 10 in my list of the top 12 UK property hotspot locations.

Much has happened since to interfere with and re-write the investment rulebook ... and it set me wondering whether this once industrial backwater mill town still looks as promising now as it did then.

After revisiting what I had written earlier and exploring the current situation, I am left in little doubt that despite the economic and housing turmoil, Burnley remains one of the most affordable and most lucrative locations in the UK for property investors looking for long-term profit.

The town has already made numerous improvements and these are creating a more attractive environment for its residents and visitors - but it has also put in place a variety of impressive regeneration schemes, which will eventually transform it even more.