With interest rate rises still not calming the house price boom in York, STEVE CARROLL looks at how much homes in the city have risen in the last 12 months.

"WE have yet not reached the top of the apex, prices will continue to rise further."

So says Keith Hollinrake, a director at Hunters Estate Agents, ensuring the wide smile on the face of hundreds of York property salesmen will continue for some time to come.

Experts have estimated that house prices in the city have risen, on average, by 20 per cent in the past year.

So the Evening Press decided to put this figure to the test. We examined our weekly Property Press guide from last week, and from the equivalent week 12 months ago.

We have picked out five houses of the same type, in the same street, in different parts of the city and compared their value in May, 2003, with today.

In virtually every case, property prices have risen massively, with one flat in a housing development showing a £30,000 increase.

Mr Hollinrake, who runs one of the city's most successful agencies, said businesses had never been busier. He also calmed the fears of prospective homebuyers who may be looking to get on the property ladder, saying there was no fear of negative equity.

Starting in the south of the city, in Holgate, a two-bedroom terraced house in Railway Terrace was priced up at £145,000 in May 2003.

Twelve months on, a two-bed home in the same street, with lounge, dining room, kitchen, bathroom, and views towards the Minster, now costs £149,950.

Not a tremendous increase, but some of the most dramatic prices rises have been seen in the city's flats developments. In Holgate, the Mount Court complex is a clear example.

A year ago, a buyer would have had to stump up £99,950 for a one-bedroom apartment. Today, a similar flat costs £110,950 - a rise of 11 per cent.

Mr Hollinrake said the price increases were the same across the city. "There has been talk of gloom and doom for some time, but the market continues to be driven along," he said.

"It is all caused by supply and demand and, while that demand continues, so the price of houses will rise. York is benefiting from the massive growth of Leeds. People are going there to work and where would you prefer to live, York or Leeds?

"The interest rate rises we are seeing at the moment will help calm the market, but won't stop its progress."

Moving to the west of York, a three-bedroom house in Chapelfields Road would have meant a mortgage for £97,000. Today, that price is £112,000 - or an increase of 15.5 per cent.

The north of the city is experiencing even bigger increases. The value of a flat in Grosvenor House, Bootham, has risen from £179,950 to £209,950, a £30,000 rise (16.7 per cent ).

A two-bedroom house in Crombie Avenue, near Burton Stone Lane, has risen £20,000 - from £89,950 in May 2003, to £109,950 today.

Mr Hollinrake said he was unaware of any houses on the market that had not failed to increase substantially in value over the last year.

"The momentum is still here. It is not a market which is out of control, but we are not having to pitch for any properties. We think these rises are only going to continue," he said.

So while first-time buyers will continue to struggle to get a foot on the ladder, the future looks bright for York homeowners who can sit back and watch their investments grow.

Updated: 08:39 Friday, May 14, 2004