Another blue-chip estate agency brand has admitted being caught out by house price growth and has hiked its predictions for this year.

Savills has raised its forecast for annual UK house price growth from 6.5% to 9.5%.

It said that average UK house price growth has exceeded “all expectations” over the past year. In particular, house price growth in London, the south and east has “significantly exceeded forecast”.

The firm is forecasting 4% growth next year, and 25.7% growth over the five-year period from 2014-2018 inclusive.

It is expecting house price inflation in all parts of Britain this year, from 5% in the north-east and in Yorkshire & Humber, to 15% in London. It had previously forecast house price inflation in London at 8%.

Over the next five years, it expects the highest house price inflation to be in the south-east and east, at over 31% each.

The move by Savills to up its house price forecasts follows a similar one earlier this month by Hamptons, which raised its figures from a 6% rise this year to one of 8.5%.