The average property price stood at £238,839 at the end of November, a rise of £11,219 compared to the same month in 2012.
House prices in all regions of England and Wales grew for the second consecutive month with Cardiff, Hertfordshire and Oxfordshire all posting particularly strong increases.
By the end of 2013 total sales across the two nations are expected to be 16% higher than in 2012.
Research from e.surv found monthly home loans topped 70,000 for the first time since January 2008. Of these mortgages 9,493 were classed as high LTV loans, twice as many as at the same point last year.
David Brown, commercial director of LSL Property Services, said the lack of new housing supply would mean prices rises continue for the foreseeable future.
“Competition is strong through rising demand and supply of new instructions not growing, a factor that will continue to prop up prices in the long term,” he said.
“Confidence is higher throughout the market, with the Help to Buy scheme and record low interest rates contributing to the positivity.
“Over the second part of this year, consumer confidence has snowballed as the economic picture improves, leading to a significant rise in sales. The increased availability of mortgages, in part thanks to the government’s schemes, and the greater range of mortgage deals on offer has swung open the door to a new host of first-time buyers, making the distant dream of homeownership now a reality for thousands.”
