House price increases accelerated in April, rising by 9.9% compared with the same month a year ago, according to official figures.
The typical price of £260,000 grew at the fastest rate for nearly four years.
The Office for National Statistics (ONS) said prices rose strongly across the UK, with Wales, Scotland and Northern Ireland all picking up pace.
London, where prices were up 18.7%, remains the driving force behind the housing revival.
Much has been made of the powers of the Bank of England's new Financial Policy Committee to deflate a housing bubble before it threatens disaster for the banking system and the economy.
And with signs that there is already overheating in the London housing market, which may be spreading elsewhere, these powers suddenly seem - well - quite useful.
But in practice what the FPC can do to curb dangerous lending is perhaps a bit constrained and indirect.
Action must be taken to stop the "housing boom" in parts of the UK getting "out of control", according to Business Secretary Vince Cable.
He said he was "appalled" that some banks had been lending five times a mortgage applicant's income, suggesting a "stable level" was up to 3.5 times.
The desires of potential homeowners should be balanced against the stability of the economy, he added.
Surveyors have reduced their expectations for house price growth in the UK, despite a continued shortage of homes for sale.
Property prices are expected to grow by 5% a year over the next five years, according to the Royal Institution of Chartered Surveyors (Rics).
This prediction had edged down in recent months, Rics said.
Price rise expectations in London have dropped from an estimate of 9% a year in March to just under 5% now.
Leading British banks, hedge funds and asset managers are increasingly worried about the impact of the housing market on Britain's financial system, according to the Bank of England.
The Bank's latest systemic risk survey of executives at hedge funds, banks and other financial institutions found that 40% cited falling property prices as a key risk.
The International Monetary Fund (IMF) has warned the government that accelerating house prices and low productivity pose the greatest threat to the UK's economic recovery.
It said rising property values could leave households more vulnerable to income and interest rate shocks.
It also called on the Bank of England to enact policy measures "early and gradually" to avoid a housing bubble.
Both of these homes are on Hazelwood Road. Both are for sale. That is where the similarities end.
One is a two-bedroom, ground floor flat, which the estate agent says offers an opportunity for the buyer to give it "the love it deserves". The other is a four-bedroom, detached family home with a conservatory at the back and an integral garage.
The difference in the price tags of these property siblings is about £85,000.
It's the kind of property where you feel you might have to breathe in when you enter the door – this slimline property in south-east London is reckoned to be one of the narrowest in town, measuring just 99 inches, or 8ft 3 across, at its widest part. It gets even skinnier at the back, where the galley kitchen is a mere 62 inches, or 5ft 2 across, but despite its slender proportions, the 466sq ft property in Denmark Hill was put on the market for £450,000.
Concern has been growing over rising house prices, with the business secretary, Vince Cable, and Bank of England governor, Mark Carney, among the latest to express fears that recent increases may be a risk to the economy.
This map, based on data from the department for communities and local government, shows how English house prices have risen since 1997 relative to earnings. At the beginning of the period the average house in most areas could be bought with six years' average earnings. By the latest figures, the multiple was 10 times or more in large areas of the country
The governor of the Bank of England has put on record his concern that the greatest risk to the UK's recovery are the red-hot conditions in the London property market, the potential for contagion to the rest of the country, and the associated risk that banks may be lending recklessly.
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