House prices in September did not manage to reach the record high of the previous month, according to official figures.
Prices rose by 3.8% year-on-year to reach £245,000 on average, marking a slight decrease on the peak of £246,000 seen in August, according to the Office for National Statistics (ONS).
However the annual uplift of 3.8% is the highest seen since October 2010 and comes amid calls for the Government to ease the upward pressure on house prices being fuelled by its new Help to Buy scheme by building more homes to meet demand.
The figures were released as the Royal Institution of Chartered Surveyors (Rics) called for urgent action to address the supply of homes, which it said is "nowhere near" that which is needed to cope with "soaring" demand from buyers.
Rics said the number of surveyors reporting house prices lifting across the country had surged to an 11-year high, with the second phase of Help to Buy fuelling "soaring" demand from buyers.
The effect of phase two of Help To Buy is yet to be measured by the ONS The ONS figures covered the 12 months to September - before the Help To Buy extension came in to force.
The body said that on a seasonally-adjusted basis, UK house prices were unchanged between August and September.
House prices in London soared by 9.4% over the year to reach £434,000 on average - driving most of the national growth performance.
The year-on-year increase reflected growth of 4.2% in England, where typical prices reached £255,000, and 1.4% in Wales, where prices were £163,000 on average.
The rises were offset by annual falls of 1.1% in Scotland, where typical prices fell to £181,000 and 1.5% in Northern Ireland, where the average price edged down to £127,000.
The ONS figures also showed that first-time buyers face having to pay around 5.3% more for a property than they did a year ago.
The typical price paid by a first-time buyer in September was £184,000.
Housebuilder Persimmon said earlier this month it had sold more than 3,000 properties under the first phase of Help to Buy - the Government-backed equity loan scheme for buyers of new properties.
The launch of a next phase - which offers state-backed mortgages to people with deposits as low as 5% - was brought forward to October.
The Halifax and Royal Bank of Scotland recently said they had received a total of £365m in mortgage applications from 2,384 would-be owners, with an average value of more than £153,000 per loan, under the second phase.
The lenders reported the greatest interest outside of London from first-time buyers.
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