By Jane Donald
In the second quarter of 2024, Dubbo’s real estate market mirrored the trends observed in the preceding quarter, with sellers adjusting to an oversupplied market and downward pressure on prices. Our Big Day Out event in June spurred notable buyer activity, contributing to a total of 20 sales for the quarter, including 4 residential land lots. Days on market extended from 39 days in Q1 to 54 days in Q2.
Rental market
Regarding the rental market, the median rent held steady at $470 per week, although there are indications of downward pressure on rents for higher-priced 4-bedroom homes due to a reduced pool of tenants.
Sales Highlights
Highlighting standout sales, 1L Riverbend Drive achieved a significant pre-auction sale of $1,370,000, facilitated by Elle Roberts and Graeme Board. Additionally, 44 Crown Street sold for $546,000 to a first home buyer, and 55 Windsor Parade fetched $515,000 from an owner-occupier relocating to Dubbo, both transactions were managed by Ross Woodham and attracting strong buyer interest.
The most sought-after property, attracting over 50 groups to inspect was 169 Wingewarra St in Central, selling for $542,500 by Jane Donald.
These insights into Dubbo’s real estate market in the second quarter of 2024 reflect its ongoing evolution, showcasing the dynamics that are shaping property trends within the city and surrounding towns and villages.
