NORTH Yorkshire home-owners look set to be cushioned from any threat of a housing market crash, according to property experts.

Nationally, experts are warning against overheating in the property market, but surveyors in our region are confident that prices will continue to rise in the months ahead, showing little relief for buyers as house price inflation remains close to a 21-month high.

Despite increasing price tags, the number of actual sales is also expected to pick up in the months ahead, according to the latest survey by the Royal Institution of Chartered Surveyors (RICS).

In what is already a busy market, surveyors in North Yorkshire are continuing to see price increases due to shortage of supply.

Only obviously overpriced homes - and some flats - are proving difficult to sell.

In North Yorkshire, John Haigh of Lister and Haigh, in Knaresborough, said: "Confidence amongst buyers remains high, with little concern for any future rise in interest rates. Prices continue to rise for all property types."

Christopher Wilson, of Boulton & Cooper, in Malton, said: "The market continues to be driven by scarcity, although overpriced properties are not selling."

Edward Waterson of Carter Jonas, in York, said: "Although the number of instructions is beginning to show signs of increasing, there remains a shortage of supply which is encouraging further increases in prices.

"However, certain sectors of the market, such as secondary flats, where there is more equilibrium in the market, are not sharing the same buoyancy." According to the RICS nationally, interest rate rises and speculation about house price crashes do not seem to have either significantly discouraged buyers from looking for their next home, or encouraged others to put their property on the market.

This is creating what is commonly referred to as a "tight" market situation - and it is these conditions which will create an upward pressure on prices over the next few months.

RICS national housing spokesman, Jeremy Leaf, said: "The expected springtime flood of properties on to the market has just not materialised. Many people are realising that the current number of houses for sale is as good as it gets for now, and are looking to buy quickly rather than risk paying more for a similar property over the coming months.

"In this environment it is important that both sellers and buyers are not taken for a ride.

"Sellers may find their properties are overvalued and sit on the market for a while, whilst some buyers are paying above the odds in order to secure a property.

"We need to caution against the market overheating again."

Updated: 09:12 Thursday, May 20, 2004