02:17
Tieng Anh Vui
UK house prices rose 5.4% in the three months to August compared to same period last year, according to the Halifax's latest house price survey.
This is the highest annual rate since June 2010.
Prices over the quarter were 2.1% higher than the previous period, the lender said.
Housing market activity was up thanks to an improving economy, low interest rates, and government-backed schemes such as Help to Buy, it said.
According to the Halifax, the average house price broke the £170,000 barrier in August, the highest level since September 2008, although this is still 14.7% below Halifax's seasonally-adjusted high of £199,612 for August 2007.
Last month, Nationwide reported a 1.4% rise in the three months to August from the same period last year, the biggest increase since mid-2010, it said.
Martin Ellis, the Halifax's housing economist, said: "Overall, house prices are expected to rise gradually over the remainder of the year."
The Halifax believes below-inflation earnings rises "are likely to act as a brake on the market".
The number of mortgage approvals for house purchases - an indicator of completed house sales - rose 4% to 60,600 between June and July.
This is the first time that approvals have exceeded 60,000 since early 2008.
Prices rose 0.4% in August from July, a lower rate than economists had forecast and lower than July's 0.9%.
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