By Jane Donald
Jane Donald reports on the Q2 real estate market in Dubbo, where the median house price is $540,000, steady since November last year. The rental market has stabilised with a smaller pool of tenants applying for properties, making it sometimes difficult to secure a quality tenant immediately. The top end of the market has seen an increase in rental arrears due to cost of living pressures.
Days on the market remain steady, with buyers understanding market conditions and making decisions without delay after inspecting. Investors and first-home buyers are still active in the market, but first-home buyers should be aware of government incentives changing on July 1st for grants.
Standout sales include 12R Wilfred Smith Drive for just over $1.2 million the highest sale for the quarter, 3 Beveridge Cres solf for $690,000 and had the most buyers view the property, the lowest sale was 3/274 Brisbane St for $300,000.
The Dubbo market Q2 has been undersupplied, causing buyers to compete for purchase. However, there is expected to be more stock enter the market in the next three months, which should ease supply issues. If you have any buying or selling needs, please contact our team to discuss how we can assist you.