But real estate agents say the forecast is fanciful, unrealistic and about 10 years too soon.

The report prepared by Australian Property Monitors predicts modest increase until 2015 with prices rising dramatically in the second half of the decade.

It also says by 2020 the average price of a home in Thurgoona would be $934,444, about $220,000 more than Albury.

South of the border and excluding the mountains the most expensive property would be found at Bright with an average home expected to be worth almost $700,000.

A home in central Wodonga is expected to increase almost 150 per cent on present day values, while West Wodonga will rise 112 per cent.

But Border real estate agents believe the forecasts are inaccurate.

Stockdale and Leggo’s Chris Hood said the prices were “slightly ambitious, perhaps even fanciful”.

“If you look at the history of real estate in the country there are very few examples of prices doubling or trebling in 10 years,” he said.

“There is a great deal of media attention focused on Melbourne property prices at the moment but even there the boom is confined to the sought after inner city suburbs, it is not across the board.

“If you look at what has happened in Wodonga in the past 20 years you get some idea of how fanciful this is.

“In 1990 you could buy a house for about $100,000, in 2000 $105,000 then there was a major spike — when prices went vertical — and then it all settled back down again.”

Former chairman of the Albury division of the NSW Real Estate Institute Brian Phegan believes the timeframe needs to be at least doubled.

“The general rule of thumb would suggest at the current interest rates it would take about 23 years for property prices to double,” he said.

“The market is cyclical and while we are on the upswing the global financial crisis has meant we are not as far along as might have been the case.”

Mitchelhill Dynan Real Estate agent Wayne Matsinos can’t see pri-ces reaching the “extremes” predicted.

“In 2000 we did see some prices double,” he said.

“But interest rates are the best indicator — when they go up we slow down, when they come down people look to buy again.”