A survey by the BBC has revealed the average price of property in the borough has risen by 1.8 per cent on the same period in 2007.
Homeowners across the UK received some rare good news when latest Government figures showed house prices had risen slightly during April.
The average cost of a property in the UK increased by 0.7 per cent during the month to £218,875, according to Communities and Local Government.
The CLG figures for April are based on mortgage completions.
The CLG said April's increase was driven by a 1.3 per cent jump in the average cost of a terraced property, while the price of detached and semi-detached homes rose by 0.8 per cent.
A CLG spokesman said: "When looking at trends in the market, it is important to remember that UK house prices are 44 per cent higher than five years ago.
"The current issue affecting the market is fundamentally about the supply of credit – a very different situation to the early 1990s, which was about high interest rates and unemployment. The long-term demand for housing remains high and the fundamentals of the economy are sound, with low unemployment and historically low interest rates.''
The National Association of Estate Agents confirmed house prices were being affected differently across the country.
According to the experts, Lancashire as a whole is well-placed to survive any "fall-out of a credit crunch".
One of the country's leading economists, Tom Vosa, chief economist at Yorkshire Bank, believes the county's diverse mix of manufacturing businesses and strong employment in public services means it is unlikely to be impacted by any downturn in the financial markets.