By Graeme Board
Dubbo has withstood the impact of a full year of rising interest rates in the year to June with a median house price of $540,000 up 5.9% in the year. Lower annual sales of 723 is around 25% lower than the peak of the market in 2021. Units were in demand with the median price rising 10% in the year to $342,000 on 51 sales.
Graeme Board, of Bob Berry Real Estate in commenting on the latest sale figures said “The resilience and strength of the Dubbo housing market is reflected in these results, with the median house price shaking off 10 interest rate rises to hold at $540,000 and the strong demand and low supply of units sending prices 10% higher, to a median price of $342,000”
“The strong longer-term performance of the Dubbo residential market is shown by an average annual increase over 10 years of 7% for houses and 7.4% units”, Graeme Board concluded.
Undersupply of housing remains a challenge for Dubbo, to provide diversified housing types for both owner occupiers and renters.