House sales across York are beginning to buck the UK trends again after a "slow end" to last year, as stretched mortgage affordability weighs on the housing market.

The Royal Institution of Chartered Surveyors (RICS) has found that the housing market is having to adjust to a tighter lending climate.

It compared the mainstream (homes up to £500,000) average sale prices with initial asking prices over the past three months and found that 60.3 per cent of houses across the UK were being agreed at below the asking prices.

February was the 10th lowest month in a row for new buyer inquiries, and the average time to complete a sale continues to rise, now sitting at 19 weeks.

Ben Hudson, the director of Hudson Moody estate agents in Micklegate, said the housing market in York did see "a slow end to 2022" following the rise in interest rates, and house prices have "plateaued out and in some cases have fallen".

However, Mr Hudson has suggested that York is starting to buck the UK property trends again.

He said: "Since the beginning of the year things have been much faster, and we are still finding it is busy by normal standards.

"As I’ve said before people must go ahead and purchase a property when the time is right for them and their ability to do so is right rather than trying to follow markets.

"In terms of the timing to complete a sale, 19 weeks is probably faster than it was during the post Covid period.

"As slightly fewer numbers are going through, the solicitors can do the legal conveyancing faster."

A spokesperson for RICS has said that given the ongoing weakness in demand across the UK, house prices remain on a downward trajectory, and are expected to see further falls through the first half of the year.

For properties priced between £500,000 and £1 million, the share of prices being agreed at below the asking price jumps to 71.5 per cent – and the proportion of properties priced at over £1 million was similar at 68.3 per cent, Rics has said.

However, the average property price for York in December (£329,398) had increased by 0.9 per cent on November, Land Registry figures show. For the UK as a whole there was a 0.4 per cent drop.

Mr Hudson has previously said: "If you look back to previous downturns York has always fared well.

 "York is highly desirable due to history, architecture, schools and universities, with excellent links to London and Edinburgh.

"Property has always been highly sought after due to the lack of supply."