Dubbo has maintained record highs for the median house price at $550,000 and median unit price at $340,000 for the rolling year to November 2023.
However, price growth is now at the lowest for over a decade, as the median house price only grew at a low 2.8% and unit price at 0.7%. The impact of higher interest rates during the year to November shows up in very subdued price growth, and significant drop in sales volume.
Graeme Board, Licensee of Bob Berry Real Estate said “Total sales of 811 houses and units is a drop of 22.7% from 2022 when market demand was at a peak. The decline in sales may be a combination of less homes entering the market, and less buyers due to higher interest rates.”
