Dubbo Real Estate Update: A Look at Quarter 3, 2023


As we move through the final quarter of 2023, it’s time to reflect on the events and developments that unfolded in the real estate market during Quarter 3. The traditional winter period brought us unexpected activity, thanks in part to the Reserve Bank of Australia’s decision to pause interest rate hikes. This pause provided buyers with a unique opportunity to re evaluate their financial positions and take the plunge into the real estate market, particularly for first-time homebuyers.

Impact of RBA’s Interest Rate Pause

One of the most noticeable effects of the RBA’s interest rate pause was the rapid reduction in the average number of days properties spent on the market. In Quarter 2, it took an average of 55 days to sell a property, but Quarter 3 saw a significant drop to just 41 days. Buyers seized the moment, swiftly transitioning from pre-approval to unconditional approval for their loans.

However, it’s essential to note that the market wasn’t entirely without its quirks. Some buyers renegotiated their offers after pest and building inspections. This is an interesting indicator of buyer sentiment – it suggests that buyers may feel they are purchasing at the peak of the market and, consequently, have higher expectations regarding the condition of the property. Despite this, the median house price in Dubbo remained remarkably steady at $540,000.

Investor’s Perspective

For investors, the changing interest rate landscape has prompted a quest for higher returns on residential properties. Many investors are now comfortable with a 5-6% gross return, highlighting the evolving dynamics of the market and the need for adaptability.

Notable Sales

Quarter 3 showcased some remarkable sales in Dubbo’s real estate market. These standout sales are a testament to the city’s growing appeal and the opportunities it offers for both buyers and sellers. Among them, the sale of 19R Rosedale Rd at auction for $890,000, 94 Taylor Street’s transaction at $596,000 after fierce competition, and the pre-auction sale of 345D Macquarie St for $1,400,000 stand out as examples of the market’s vitality and potential.

Dubbo’s Resilience

In a world marked by economic volatility and the recurring challenges of natural disasters and conflicts, residential real estate in Dubbo maintains its attractiveness. This affordable regional city continues to be a preferred choice for those looking to invest in a stable and resilient market. Despite global uncertainties, Dubbo’s real estate sector remains a secure option for investors.


Quarter 3 of 2023 was characterized by unexpected activity in Dubbo’s real estate market. The pause in interest rate hikes by the RBA provided buyers with an opportunity to enter the market, resulting in a noticeable drop in the time properties spent on the market. Investors sought higher returns, and several impressive sales demonstrated the city’s real estate potential. As Dubbo continues to shine as a stable investment destination, the real estate market remains a bright spot in the region’s economy.