Quarterly Market Update
It was another active quarter, with strong activity across all price ranges. Demand continued to exceed supply, resulting in many properties selling above their expected price range as buyers competed to secure homes for first-home ownership or investment.
Throughout the quarter, we conducted 379 buyer inspections and received 179 offers, resulting in 30 exchanged contracts. This represents an increase in activity compared to Quarter 3, largely driven by the introduction of the First Home Buyer Scheme and buyers looking to purchase ahead of the traditional Christmas shutdown period.
The highest sale price recorded was $1,165,000 in Richmond Estate, marketed by Ross Woodham. While the lowest price was $295,000 for the final lot in Stage 3 of Bald Hill Estate, Geurie. The next stage of this estate is due for release later this year.
Joira Estate is now 50% sold and we encourage buyer interest from those looking for Dubbo’s most affordable residential land. In December we opened the display apartment at No. 1 Church St and have commenced inspections with qualified buyers. Buyers interested in inspecting can book in on the No. 1 Church St website.
The average days on market across all sales was 22 days, highlighting the continued strength of buyer demand.
Standout results included 1 Dulhunty Avenue, which sold for $593,000 following a targeted marketing campaign to our buyer database, and 13 Lachlan Way, which achieved $800,000 after a short and effective marketing campaign. A number of properties also sold off market or prior to full marketing, further demonstrating the depth of buyer demand.
The most sought-after property this quarter was 36 Tamworth Street, which attracted over 80 inspection groups. Marketed by Jen McGrath and myself, the property received seven competing offers and ultimately sold to a buyer eager to renovate and create a home of her own. This result reinforces that traditionally sought-after locations in Dubbo remain highly desirable.
Recently, realestate.com.au named Dubbo as one of the top 100 suburbs in the country to watch. We expect this announcement to further increase buyer interest in our city and contribute to continued market strength.
With the Dubbo market continuing to evolve, we invite anyone curious about the value of their property to begin their journey by contacting us for a personalised market update or by meeting us at one of our upcoming open homes.
— Jane Donald
