It has been a record year for the York office of estate agency FPDSavills, with residential property sales up nearly 60 per cent on 2003.

The office has successfully negotiated sales on properties ranging in value from £175,000 to more thsn £2 million and from city apartments to stately homes.

Ben Pridden, head of residential sales at the Micklegate office, said: "The first half of the year was exceptional with demand out-stripping supply up until July. As a result of the Bank of England's interest rate rises, the market did not fully recover from a typically quiet August and many purchasers have been watching values carefully before committing".

Prices, he said, had now steadied and confidence appeared to be returning.

"Prime family houses within a sensible commute from York continue to be snapped up. We are also finding an increase in interest in several well-located apartment blocks and newly-converted period buildings in York.

"A selection of property is being lined up for launching to the market in the New Year, and we anticipate a strong first quarter if interest rates remain stable, as predicted", said Mr Pridden.

He said staff changes which had brought new expertise to the York residential sales team-plus revised branding gave a strong message strong message as they square up to the future of the property market.

With the focus on the growth of the property market in York and the wider Yorkshire area, Savills Private Finance has identified this as an area for growth for the property market, both for residential sales and for buy-to-let investors.

Updated: 11:26 Monday, December 20, 2004