With properties prices high and the housing market slow, Australians are holding on to their homes for longer.

New figures released by property information service RP Data show house owners are waiting an average of nine years before selling while unit-holders are staying put for an average of 7.7 years.

RP Data research analyst Cameron Kusher said owners were holding onto their properties significantly longer than during the property boom of the early/mid 2000s.

In Melbourne the average hold period is 10.4 years for houses, up from 8.4 years in 2000, while in Sydney owners are keeping houses for an average of 9.8 years, up from 6.3 years in 2000.

Mr Kusher said homes prices were much higher than they were a decade ago, meaning it was too expensive for many owners to move to a new home.

“It appears that home owners are increasingly likely to keep their current properties rather than upgrade due to the significant cost,” he said in a statement.”

Mr Kusher said the higher property prices, a product of the boom years, also meant stamp duty costs and real estate agent commissions were higher, making it even more expensive to buy and sell property.

However, property prices have also fallen in recent years, meaning homes are not accruing the same growth in value they once were.

Another RP Data survey, released earlier this month, showed home values across capital cities fell 5.3 per cent in the 12 months to April 2012.

Instead of moving, Mr Kusher said home owners were looking to upgrade their existing properties.

“Affordability barriers mean that people are more likely to choose to upgrade their current home rather than purchase a new one.”