YORK property prices are bucking the UK trend by continuing to rise, the latest figures show.

The average house price in York was £330,351 in September, which was a 1.7 per cent increase on August, the latest Land Registry figures show.

The average sale price in York increased by a whopping £48,000 in the last year, a rise of 17 per cent.

Ben Hudson, director of Hudson Moody estate agents, in Micklegate, said: "I think York has always managed to do far better than other areas within Yorkshire, it.s an oasis where property has always been highly sought after due to the lack of supply of properties. 

"There has been very little new building over the last few decades and simple supply and demand economics means that prices have continued to rise."

Owners of semi-detached and terraced homes in York saw the biggest rise in September, with both types of property increasing by 1.8 per cent.

Semi-detached homes cost £345,461 on average, a yearly increase of 17.4 per cent, and terraced homes cost an average £290,061, a 18.3 per cent rise annually.

Detached houses went up by 1.7 per cent in September to an average £540,629, which is a 17.7 per cent increase over the last year, while flats went up 1.1 per cent to £198,805, which is a yearly increase of 12.7 per cent.

First time buyers in York spent an average of £281,000, which is £40,000 more than last year, and £71,000 more than in September 2017.

However, the picture was different across Yorkshire and the UK overall, as property prices stalled in August and September, which caused yearly growth to slow to 8.5 per cent and 9.5 per cent respectively.

Mr Hudson added: "York is a very special city, similar to Bath, Chester, Norwich, Oxford, Cambridge, all of which are highly desirable due to history, architecture, schools, and universities, but also with excellent links to London and Edinburgh with the east coast main line.

"If you look back to previous downturns York has always fared very well." 

York property prices were 55.4 per cent higher than the Yorkshire average of £212,593 in September, while the UK average was £294,559.

Nicky Stevenson, managing director at estate agent group Fine and Country, said: "Annual house price growth slowed in September against a backdrop of rising interest rates and shrinking disposable incomes."

The highest average price in Yorkshire was Harrogate, at £356,000, which is eight per cent more than York, and 2.6 times more than the lowest in Hull, at £138,000.

The Yorkshire area with the highest annual growth is Craven, at 20.4 per cent, while the lowest growth was Calderdale at 6.9 per cent.