708 Yambla Avenue, Albury, went under the hammer at auction on Saturday, selling for $790,000.

Less than five years ago the property last changed hands for $595,000.

The nearly $200,000 increase in price represents a 33 per cent jump in value.

Selling agent Nicholas Clark, of Stean Nicholls, said the selling owners were happy with the result.

He said the $790,000 final price was in the vicinity of what was expected for the property given current market conditions.

"It was quite a good result almost $200,000 above what the current owner bought it for in 2016," Mr Clark said.

The two-storey house boasts views of Albury, four-bedrooms and two studies.

As well as a pool, deck, rumpus room, dining room and living area.

It is the latest in a long string of Albury-Wodonga properties selling for high prices in recent months.

"I think it's a reflection on how the market is tracking," he said.

"We're seeing a lot of people moving to the area, and with great interest rates at moment and good buying conditions we're seeing people upsizing, downsizing and buying investment properties.

"The buyer of this house was upsizing a little bit to get a second living area for a growing family."

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Mr Clark said many sellers were getting more for their properties than they likely would have two or three years ago.

He said there seems to be a 15 to 20 year cycle of value increases in the market coinciding with good buying conditions.

"I think the market is reflective of back in 2002 and 2003 when we saw a very similar rise," he said.

"The market had been stable for quite a long time and within period 12 months we saw quite a substantial rise at that time, since then it has levelled out again."

"I don't think it will go backwards. I think we will see great growth for the rest of year, and it may start to level out before end of year."

With the population of the Albury-Wodonga region reaching 100,000, the economy and real estate market had virtually shifted up two gears, Mr Clark said, and although it was a strong market for sellers, buyers too were getting some great opportunities.

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