THE house price boom in Yorkshire is far from over, but may be starting to slow down, according to the latest survey.

Increases are running at more than double the long-term annual average of ten per cent, and are expected to continue rising until the end of the year, says the Royal Institution of Chartered Surveyors.

But in the York and Thirsk area, surveyors say purchasers are starting to negotiate over price and vendors are no longer getting away with over-optimistic pricing.

In the Yorkshire region, 71 per cent more chartered surveyors have reported a rise in prices than reported a fall, compared with a national figure of 54 per cent.

Looking ahead, chartered surveyors expect price rises to continue for the next three months with 36 per cent more contributors expecting prices to rise than fall, against 34 per cent last month.

However, uncertainty over the Middle East situation means contributors are less positive about prospects into the spring of next year.

One chartered surveyor sounded a note of caution about current prospects. Edward Waterson, of Carter Jonas, in York said: "There is now a certain edge to the market and signs that vendors are no longer getting away with over-optimistic pricing.

"September was a quieter month than expected, but inquiries picked up towards the end of October."

Malcolm Parker, of Joplings in Thirsk, said purchasers seemed to be aware that the market was quietening down and were negotiating over price.

"Demand is still strong for properties up to £200,000 with a chronic shortage of available properties at the lower end of the market," he said.

Edward Astin, of Edward G Astin and Associates, in Whitby, said the market continued to be "very buoyant" with no sign of a decline.

RICS national housing spokesman Ian Perry, said the market was continuing to power ahead. "Despite many pundits speculating on how much longer rapid price rises can be sustained, they show no signs of slowing down before the end of the year. The on-going shortage of suitable property for sale and low interest rates remain the key factors driving up prices."

Updated: 10:09 Friday, November 22, 2002