I recall Savills forecasting in March a 21% increase in house prices by 2025.
Their rationale seems to be that prices rise when there is growth,
even when the growth occurs after a trough.
Growth changes how people feel, and this feeling drives the market.
I have a friend saving for a deposit for his first house, and he's so fed up since the market is accelerating away from him...
Whether there is then a slump is crystal ball territory.
I'm trying to buy something better at the moment, but at my age I ain't got time to hang around...!