Millionaire house buyers are ready to splash the cash to set up home in the booming Wharfe Valley.

One estate agent today predicted that it would be "only a matter of time" before the first £2 million property goes on the market, after the former home of Bradford industrialist William Forster sold for almost £1.5 million.

He made the prediction as one of Yorkshire's most expensive new-build properties starts to take shape in Ben Rhydding, Ilkley.

Developer Crosby Homes has been inundated with interest in West Grange, the new £1.4 million five-bedroom house due for completion in August.

The luxury home, in Ben Rhydding Drive, is believed to be the second most expensive new-build house in the county, after Heber's Ghyll, a five-bedroom Ilkley mansion, which is also on the market at £1.5 million.

David Waddington, sales director at Crosby Homes, said the house, which has a floor space covering 5,800 square feet, is one of the finest in the county. It boasts a drawing room with ingle-nook fireplace, games room, family room, library and self-contained granny flat. It stands in gardens covering three quarters of an acre.

"It is a very sizable family house, including accommodation on three floors, and an enormous kitchen. The views to the north on to the moor are simply stunning," said Mr Waddington.

"We think the Wharfe Valley is a majestic setting.

"We have had a lot of people around the house and have taken a lot of serious inquiries. We have identified areas which fit this kind of market, and Ben Rhydding is incredibly suited to that."

The house is the latest in a string of million pound-plus properties in the district.

Wharfeside, the one time home of Bradford industrialist and politician William Forster, has just been sold for a sum approaching the asking price of £1.5 million, after spending several months on the market.

But that could be small change in future as property prices continue to rise, agents warned today.

Patrick McCutcheon, a director at Dacre, Son & Hartley, who sold Wharfe-side, said discerning housebuyers were looking to the Wharfe Valley to set-up home - whatever the price.

"This is a market that has grown steadily in the last two or three years, and the level of demand for property of this calibre is often hampered by the lack of availability," he said. "People do not seem to know they are interested in these properties until they come on the market, but there is a hard core of buyers out there."

Mr McCutcheon said he expected house builders to continue looking to build multi-million pound homes, but said there were few prime spots left for such development.

"I am in no doubt that we will soon see a £2 million-plus home," he said.