Interest rate rises haven't impacted the Dubbo residential market as much as was first expected with median house prices holding steady.
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Following the rise of interest rates, the median house price for a home in Dubbo was sitting at $540,000, a 5.9 increase from the start of the year up until June.
Graeme Board of Bob Berry Real Estate said the figures are a good indication of how strong the market is in Dubbo.
"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 per cent higher, to a median price of $342,000," he said.
"The strong longer-term performance of the Dubbo residential market is shown by an average annual increase over 10 years of 7 per cent for houses and 7.4 per cent units."
Annual sales were down approximately 25 per cent from what they were in 2021 while units were also in demand.
The median price of units has risen 10 per cent to $342,000 on 51 sales as of June.
As per YIP magazine, Dubbo has more than 600 houses available for sale, the average time houses spend on the market is 39 days.
Over the past 12 months, there were more than 700 house sales.
The average median rent is up to $460 for houses.
Meanwhile, more than 40 units are available to be purchased with an average median weekly rent of $330.
On average, units spend a little bit less time on the market than houses, with an average of 34 days before being purchased.
In comparison, Orange's median house price currently sits at $695,000, a massive $155,000 more than in Dubbo.
Houses are on the market longer as well with the average house up for sale for 52 days and the average rent is also more expensive at $520.
Bathurst is only slightly better than Orange, the average price there is $655,000 with houses for sale for an average of 60 days.
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