Agreed.
Lets look at a figure for , lets say Padstow Heights. A suburb some 22 km from Sydney. My mothers house.
House bought in 1974 - for 35k.
Same house now, would be around 420k. So 12 times as much.
35 years , 3.5 times doubled (i.e doubled to make 2 times, doubled to make 4 times ...