The average annual gain over the next 5 years will be around 6 percent, according to the RICS, with London's estimated increase highest at 9.3%
The root cause is a chronic shortage of homes for sale. Some owners are unwilling to move for fear of not finding a new place. This in turn cuts the number of properties coming on the market.
An agent from Enfield, North London, said: "Most properties are going under offer almost as soon as they are put on the market. Prices are increasing rapidly."
The RICS report says a housing market recovery is well and truly under way in Britain, but warned of a dangerous imbalance between supply and demand.
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