West Dubbo strata unit secures 'highest ever price for a three-bedroom dwelling'

The luxurious and riverfront unit at 'The Ridge' in Stonehaven Avenue was bought by a "local professional".

The identities of the vendor and the buyer have not been disclosed.

Bob Berry Real Estate sales consultant Karen Chant negotiated the sale after a 17-day marketing campaign which did not put a price on the property, instead inviting potential buyers to make offers.

Nine potential buyers inspected the unit, with three of them trying to secure it.

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Ms Chant reported that the $981,000 offer accepted by the vendor represented the "highest ever price for a residential strata title unit in the city".

"This sale also achieved the highest ever price for a three-bedroom dwelling in Dubbo," she said.

"I believe it is the first time a three-bedroom unit sale has exceeded the three-bedroom house high price.

"For Dubbo to have a record $981,000 unit sale at a time when national property markets are under pressure due to COVID-19, it indicates that confidence is high in property investment in our city."

Ms Chant said the response to the marketing campaign confirmed demand for high-quality strata units, which were in "short supply".

"This sale tops what has been a very strong six months of sales for Bob Berry Real Estate, even allowing for the shutdown during this period," she said.

"We are seeing demand at our agency for all types of residential property and we have many eager buyers on our database."

Features of the most expensive strata unit in the city include three bathrooms, a double garage, security, privacy, night views of the city, spaciousness and "lock up and leave" living.