The number of sales is also likely to rise to a monthly average of 70,000 up from the current level of between 55,000 and 60,000, it predicted.
The prediction comes despite banks maintaining strict lending criteria, offering the best mortgages to those with perfect credit ratings and a large deposit.
The increase this year has surprised many housing market analysts who predicted large falls in property prices this year amid rising unemployment and repossessions.
Simon Rubinsohn, chief economist at RICS, said: “The imbalance between supply and demand will continue into the early part of the new year resulting in some further house price gains.”
And he added: “Transactions levels are likely to increase, fulfilling the Christmas wish list of many estate agents throughout the country. But first-time buyers are likely to continue to struggle to procure finance from lenders without the help of generous relatives.”
Four-fifths of first-time buyers are forced to rely on parental support to purchase a home, according to the Council of Mortgage Lenders.
The latest housing market prediction comes just days after property website Rightmove said home owners increased asking prices by more than 3 per cent in the past year to £221,463. They were asking £213,570 at the beginning of the year.