House prices in Sydney and Melbourne may be sky-high but most properties sold have bucked the trend of doubling in a 10-year period, Corelogic says.
In 10 years, the median house and unit prices have only risen 51 per cent and 44 per cent respectively.
"What we're seeing here is a selling price increase of 51 per cent for houses over the decade and by 44 per cent for units. Clearly, based on broad averages, in most areas of the country median prices have not doubled over the past decade," senior research analyst Cameron Kusher said.
"Across individual capital cities the results diverge significantly, however none of the capital cities have seen the city-wide median house or unit prices double over the past decade."
Melbourne is the only city where about half of the total number of suburbs experienced a doubling in median selling prices while only 40 per cent of Sydney suburbs had the doubling effect.
For apartments, 21 per cent of Sydney suburbs had properties which doubled in price, 18 per cent in Melbourne and 42 per cent in Darwin.
Overall the national median house and unit prices today are $499,000 and $445,000 respectively compared to $330,000 and $310,000 10 years ago.
"The next time you hear of property prices doubling every seven to 10 years, although it can happen in certain areas, there are no guarantees," Mr Kusher said.
