The housing boom could continue for another four years in areas outside of the current hot spots.

Property consultants FPDSavills dismissed fears the property market was heading for bust and said it expected prices to rise by a further 84 per cent in the next decade.

But affordability constraints were already slowing the rate of growth in areas hit by the steepest price rises Overall, FPDSavills expected property prices to rise by 18 per cent this year before slowing to eight per cent rise next year and then averaging around six per cent a year.