With the residential property market continuing to go from strength to strength, home prices are expected to rise further next year, official figures from yesterday's Autumn Statement estimate.
The independent Office for Budget Responsibility forecasts that the average price of a residential property in the UK will appreciate by 5.2% next year, then by 7.2% in 2015.
The details are contained in the small print of the OBR's official handbook released after Chancellor George Osborne made his annual Autumn Statement in the Commons.
"Britain's moving again; let's keep going," said Mr Osborne during his speech in the Commons.
Property price growth is being fuelled by the Help to Buy scheme, which allows buyers to purchase property worth up to £600,000 with a relatively small deposit, and a general shortage of new build homes coming onto the market - contributing to the overall housing shortage in this country.
The latest figures from Nationwide building society, the UK's second-largest mortgage lender, shows that the average price of a home rose by 6.5% year-on-year in October, up from 5.8% in the previous month.
It said the average price of a property in the UK is now £174,566, the highest since April 2008.
Robert Gardner, Nationwide's chief economist, said that the improvement in the housing market was the result a "brighter economic outlook" and falling unemployment.