HOUSE prices in York dropped during the month of September, helped by the end of the stamp duty holiday.

Figures from the Land Registry show that York property prices in September saw a slight 0.7 per cent drop from August.

York underperformed compared to the Yorkshire and Humber region as a whole, which saw house prices increase by four per cent across the region.

Overall, the government department reported an overall price increase of 2.5 per cent during the month for the UK.

However despite this decrease, York remains as one of the most expensive property markets in Yorkshire and the Humber.

Simon Cartwright, co-director of local estate agents, Indigo Greens, said: “This marginal drop was due to the stamp duty holiday - people were trying to beat the stamp duty holiday which ended in September, which meant by the end of the month, less people were making offers, activity had slowed down, and so prices came down slightly.

“House prices will continue to rise in York, we only have two houses left for sale - a small amount for a high level of demand.”

Over the past year, house prices in York have experienced an overall increase of 10.6 per cent, with the average property costing £284,081 in September. It means the latest monthly figure was a small hiccup in comparison.

The government figures reveal the average sale price in York has risen by £27,000 - coming in at seventh among Yorkshire and the Humber’s 24 local authorities for annual growth.

This is compared to the Yorkshire and the Humber’s average property price of £192,354- an increase of 11.9 per cent.

It meant that during September this year, buyers still paid 47.7 per cent more for a house in York than the average price in Yorkshire and the Humber.

Ben Hudson, director of Hudson Moody estate agents said: “There was a small fluctuation when the stamp duty ended in June – July sales end in September, and we have subsequently seen a pick up.

“It’s a very competitive market in York, with one third of our properties selling in excess of asking prices, asking prices which we think are sensible, and an influx of people working from home and choosing to move in from outside the area, such as London, as York is an easy train commute to London.”

The Land Registry figures also revealed that first-time buyers in York paid an average of £242,000 on their first home, ££22,000 more than a year ago.

Former homeowners spent 32.7 per cent more than first time buyers.

Homeowners of semi-detached house in York saw the largest drop to their house value, by 0.8 per cent to £294,547 on average.

In comparison to the UK as a whole, which saw an 11.8 per cent growth, York’s properties were pricier than the £269,945 average.

Growth was highest in the North West where prices rose by 16.8% in the year to September while London saw the smallest rise, with prices up by 2.8% over the same period.