There is an "extraordinary" sense of "deja vu" in the property market harking back to the housing bubble pre-2008 crash, an expert told Daybreak.
Henry Pryor explained: "We've got a lot of people chasing a finite number of properties - though the Coalition Government should be congratulated on some of the efforts they are making to free up the housing market."
He continued: "There is a great deal of 2006-7 just ahead of the credit crunch that we can see in the market today.
"At the end of the day we have to remember, asking prices may be up, sale prices in some parts of the country may be up, but they are still according to the Land Registry anyway, 10% below the peak of the market in 2007."
Housing starts are set to rise to 155,000 from 125,000 this year - but will be insufficient to address the more rapid growth in population, RICS said.
We expect all areas of the country to see prices increase, with London, predictably, recording the biggest rises.
The improving economic picture aside, this is largely down to the fact that buyer numbers considerably outweigh the amount of homes on the market.
While the number of new homes being built is now on the rise, it still won't be anywhere near enough to meet demand and we expect the problem of insufficient housing stock to be the main driver behind price increases over the next 12 months.