Hendry said he did not feel as though York prices were dropping, as his firm recorded small increases over the year.
“It’s more likely that the values of the properties being sold were of a lower value,” he explained.
“The sales market is stable and sustainable, buyers are actively viewing properties and buying at similar rates to the past two years.
“The rental market is also stable but there is some desperation there, and it’s going to become a lot harder to get an application approved with additional financial qualification and risk assessments.
“Due to the additional competition, this is not the type of market to risk testing prices.”
According to the estate agent York was unique and in its “own little bubble”, with high demand always there.
“It’s not necessarily bullet proof but it will feel the effects a lot less than smaller towns or cities that are not as attractive for people to bring up children,” he said.
“I believe with falling interest rates and no upcoming budget, we will see a fairly active sales market.”