The UK House Price Index has revealed that the New Year has seen the demand for property rise by 49 per cent compared to the New Year markets of 2018 to 2021, with the average house price in the UK now going for £270,700.

In York, house prices have seen a 13.2 per cent annual growth from November, the average price now being £302,617, which is 58.4 per cent more than the average Yorkshire property.

From October to November alone, house prices in York increased by 3.5 per cent.

The end of the Stamp Duty Holiday in September has led to a decrease in available properties across the UK.

Simon Cartwright of Indigo Green estate agents explained that as people were looking to benefit from the tax saving, it sped up the moving process for those who would likely have been looking to move now rather than last summer, meaning there are now less properties on the market.

He said: "Quite often the York market has around 1,500 properties for sale at any one time and currently there is just short of 420 available on Rightmove. Whilst there is a shortage of properties on the market to purchase there is still a high number of buyers looking to buy which has resulted in a price hike as expected from supply and demand issues in any marketplace.

"There is high demand right across the property spectrum at the moment as there are a number of incomplete chains, so properties higher up the ladder are just as sought after as the first time buyer houses too."

Detached houses saw the biggest increase in York in November - they increased by four per cent, to just shy of £500,000 on average, and 16.2 per cent over the last year.

First time buyers have fared the worst, paying £30,000 more than a year ago.

Angela Parrish, of Martin and Co estate agents in York said: "The family sized properties with gardens rising the fastest and selling the quickest. As well as prices going up, all properties are selling very quickly, and are frequently receiving offers from more than one buyer. This again pushes prices higher, often over the asking price.

"Plus, if people would like to move house, but can't see suitable properties coming on to the market, then they may put your own plans on ice and not list their own property for sale. This exacerbates the shortage."

Harrogate has the most expensive houses in Yorkshire, averaging at £317,000 which is five per cent more than York. Cheapest are in Hull at £127,000.