The average UK house price has topped a quarter of a million pounds for the first time, according to the latest index from Halifax.
Typical property values reached £250,457 in October, marking a 7.5% jump compared with a year earlier, according to Halifax.
It was the strongest annual growth since June 2016.
UK house prices also edged up at a more modest rate of 0.3% month-on-month.
But the index said that while an expected downturn in the housing market has been delayed, UK government support measures will not continue indefinitely.
Estate agents commenting on the report warned a boom followed by a bust in the spring should be avoided at all costs.
Russell Galley, managing director, Halifax, pointed out that month-on-month price growth has "slowed considerably", at 0.3% compared with 1.5% in September.
"Transaction levels continue to be supercharged by pent-up demand as a result of the spring/summer lockdown, as well as the Chancellor's waiver on stamp duty for properties up to £500,000," he said.
"While government support measures have undoubtedly helped to delay the expected downturn in the housing market, they will not continue indefinitely and, as we move through autumn and into winter, the macroeconomic landscape in the UK remains highly uncertain," he said.
"We expect to see greater downward pressure on house prices as we move into 2021," he added.
