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Dubbo's median housing price soars

Orlander Ruming - Daily Liberal - 15 August 2016

The median house price at Dubbo has reached a record high, according to Australian Property Monitors.

For the year ending May 31, the median house price in Dubbo reached $340,000, which is a yearly growth of 6.3 per cent.

The median unit price was recorded at $260,000, a two per cent growth.

Across the past decade it’s an annual housing price growth of 4.4 per cent . Units have had a greater increase with a rise of 5.2 per cent in the past ten years.

For renters, the median for a house was $330 per week, while it was $240 for a unit. A yield of 5.4 per cent for houses and 5.7 per cent for units.

Demand for housing has created high development approvals over the last couple of years and those approvals create jobs. - Bob Berry

Real Estate Institute NSW Orana division acting chair Bob Berry said it was a significant amount of growth, and a good sign of Dubbo’s economy.

“Dubbo is still very affordable when you look at the general level of housing prices, and effectively with a one year return of 11.7 per cent, Dubbo remains a very attractive investment location,” Mr Berry said.

Even with the return figure halved it would still be very appealing, he said.

Dubbo's median housing price soars