The 21-year-old factory worker signed on the bottom line for a property in Lawrence Street, Wodonga, on Thursday night.

The property advertised for $258,000 will be worth more than $600,000 in 10 years, a national report released yesterday forecasts.

But Mr Spilsbury thinks that is unlikely.

“I’d be happy about that but it is a bit hard to believe,” he said.

“But either way this is a lot better than paying rent, I have been looking to make an investment, make a start on owning a home.

“Building wasn’t an option when this house came along it is just a much better proposition.”

Wodonga Real Estate agent Clinton Harvey was another to question the national report’s property price forecast.

“Some of these capital cities give the rest of the country the wrong impression,” he said.

“They have 100,000 people moving there and we have 500.

“We have land opening up in new and established estates that also takes the pressure off the market ... around here it will be steady as she goes.”