The latest sale figures for house sales in Dubbo for the year to August show that prices are holding with one year growth of 4.8%, and the median price remaining at a record high of $550,000.
Elle Roberts, of Bob Berry Real Estate said “Sales of houses fell to 685 for the year, which is well below the level of the period from 2020 to 2022 when in one-year house sales reached 964. It appears the fall in turnover is a combination of lower listings and higher interest rates, impacting demand”.
“The Dubbo house market has performed strongly for the last decade, with a
5-year average annual growth of 10.32%, and 10 year 7%.”, Elle Roberts said.
Dubbo units recorded a small increase of 3.5% for the year, a median price of $340,000 on 46 sales, taking total residential sales in Dubbo to 731.
Sales have continued strongly over recent months, although listings remain tight in the lead up to the holiday period.
The strong residential market is not confined to Dubbo. Wellington had a median price of $285,000 on 111 sales, which increased 5.6% in the year, and Narromine recorded the highest growth for the year of 16.7% and median price of $385,000 on 83 sales.
Source: Core Logic published by Your Investment Property.