A house-price index in the U.K. rallied to its highest in over a decade in October as governmental programmes to increase home ownership put pressure on supply throughout the country.

The estimate of the Royal Institution of Chartered Surveyors rose to 57, the highest since June 2002, for just 54 in September, the London-based group reported, citing a property surveyors’ poll.

More than 2,000 people, said Prime Minister David Cameron yesterday, have been received a government-backed mortgage under his Help to Buy initiative, which only requires a 5 percent downpayment, and allows “hardworking people” to enter the property market. The programme, however, has been criticised by authorities such as the International Monetary Fund and politicians on account of its housing-bubble potential.

“It’s no secret the housing market is gathering some momentum,” said RICS Chief Economist Simon Rubinsohn. “A greater willingness by lenders to increase loan-to-values on mortgage products allied to the Help to Buy scheme has meant that more and more first-time buyers are in a position to enter the market.”

According to RICS, the gap between demand and supply has broadened to the most since May 2009. Sales have increased relative to stock to the highest since October 2007, while new properties on the market have not been able to keep up with the rate of transaction. House prices is forecast to continue increasing in all regions except northern England and sales projection reached their peak, RCIS said.

In the next 12 months, RICS said, prices are anticipated to increase 3 percent across the nation, up from 2.6 percent in September.