The government, regulators, the Reserve Bank were all hoping for an orderly upturn in house pricing.  But the price gains recorded in September suggest the bounce is proving to be anything but orderly - prices are threatening to spin out of control. 

Fear of missing out appears to be gripping the property market and today's decision by the RBA to cut rates again will only spur on buyers. 

House prices are rising faster than most experts expected.  Credit:Peter Rae

The price momentum was dialled up a notch in September as valuations in Sydney and Melbourne both bounced 1.7 per cent and jumped by 3.5 per cent and 3.4 per cent respectively over the quarter. 

Even the national result is up a strong 0.9 per cent in September.