THERE are fears that first time buyers may be struggling to buy homes in Otley after the town was named high on a list of places in Yorkshire with the fastest rising property prices.

Last week the Halifax Group said the town came second only to Harrogate for house price increases.

Over the last ten years, prices have risen 108 per cent with the average price in Otley ten years ago £65,000, compared to almost £137,000 today.

Councillor Graham Kirkland (Lib Dem, Otley and Wharfe-dale), is alarmed by the increases.

He said: "It is actually terrifying for young people. Anyone who is born and bred in Otley doesn't have a cat in hell's chance of living in Otley."

Estate agents Dacre, Son and Hartley said the area's real hot spot was Bramhope where the property types and closeness to Leeds make the area a firm favourite with house-buyers.

Dacre's Frazer Thompson said Otley was no different from other places in the area where property prices were rising steadily.

But in Bramhope, prices were higher and the gap between it and Otley was ever increasing.

"Otley is a good area, there is not a large supply of houses and there is quite a demand for them, but it is still not in the heady heights of places like Bramhope or Ilkley."

Mr Thompson said a town needed good transport links to make it attractive to house buyers.

"I believe house prices have started to shelve off, it will be interesting to see what happens in the next year," he added.

Coun Nigel Francis (Con, Otley and Wharfedale) claimed house prices were being pushed up by people investing in property rather than the stock market.

"A working class couple just can't afford to buy a house in Otley.

"With the interest rates low, people can buy a second house by taking out another mortgage."

He believed Otley had become popular because of its market town image and that it was close enough to Leeds, Harrogate and Bradford.

"There is a big move to buy old stone terrace houses and Otley has a lot of those, " he said.

The Halifax based its findings on a ten year survey of the housing market in Yorkshire.

The survey revealed Ilkley had the most expensive housing stock in the county with Harrogate house prices rising faster than anywhere else.

Martin Ellis, Halifax Estate Agents Group Economist, said: "While house prices have risen right across Yorkshire over the past ten years there have been wide variations in the scale of increase around the county and there are marked differences in the average level of prices."

And he added: "The housing market is expected to slow in southern England over the coming year, but the prospects are for housing prices in Yorkshire to maintain their current -buoyancy.

"Further significant rises are expected during the next 12 months as demand is boosted by a combination of favourable housing affordability in most parts of the county and an improving regional economy."