How long does it take for the value of real estate to double?

This is a topic that media regularly reports, but never in a particularly informed or helpful
way.

Media often refers to the alleged “industry standard” that property doubles in value every 7-
10 years.

According to writers on this subject, the industry makes this claim – that residential property
doubles in value every 10 years, or as fast as every seven years.

But I’ve never observed anyone in the real estate industry making that claim – it’s something
that media claims is said, but never provides any evidence.

We certainly would never make that claim, as it’s ridiculous generalisation about real estate
which is based on the erroneous assumption that all property behaves the same in every
location and at all times.

As I have often commented, generalisation by journalists and by economists is the curse of
Australian real estate consumers trying to understand real estate markets. It leads to a
proliferation of dodgy data based on rubbery figures.