Despite being at an all-time high experts predict a further four to five per cent rise in house prices by the end of 2014.
Howard Archer, chief UK and European economist for IHS Global Insight, said this could increase to seven per cent in 2015.
He said: "At the moment, house prices still look more likely than not to see clear increases over the coming months, although it is looking increasingly probable that there will be some easing back in house price gains from the recent very strong increases."
More top news
Scotland will become the first part of the UK to ban smacking if the bill goes through.
Jeremy Corbyn has arrived in Brussels to "make sure negotiations get on track" as he accused the PM of "upsetting just about everybody".
The rising cost of clearing up a record number of illegally dumped items - which ranged from fridges animal carcasses - has been revealed.