The average house price in Yorkshire rises 9.8 per cent to £197,000 amid warnings over drop off in supply

Speaking to The Yorkshire Post after reporting a record high in mortgage balances and first-time buyers helped onto the property ladder, Stephen White said that 2021 had seen a massive surge in both demand and supply of housing, with the freeze in Stamp Duty attributed as one of the primary drivers of such an active market.

However, Mr White cautioned that supply was failing to keep up with demand with fewer and fewer homes coming into the market place.

His views came as Yorkshire Building Society reported a core operating profit of £297.3m for the year ended December 31, up from £170.5m the previous year.

Mr White added that the YBS branch network was becoming more agile as it continues to grow the number of venues offering financial advice to both society customers and non-customer branches alike.

The number of venues offering free information on matters such as Universal Credit and tax credits will rise from eight to 18, with 12 of these being based in Yorkshire.

Mr White said: “As interim chief executive I am really proud of the outstanding work customers have done.

“We are proud of our Yorkshire heritage.

“When it comes down to how we interact I believe it comes down to individual customer choice, whether that is a focus on branches, by telephone or digitally.

“We are committed to face-to-face interaction.”

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Thank you

James Mitchinson