Fitzpatricks Real Estate Wagga’s data shows that median prices across all sales in the Wagga Local Government Area rose $340,000 to $354,500, representing a 4.2 per cent change.

“It very much defies Sydney and Melbourne,” director Richard Fitzpatrick said.

“It [market] has been stable even though it dropped off a bit with the byelection.

“There’s good intention in the market to keep it going and we haven’t experienced any contraction in listings.”

However, Mr Fitzpatrick said the industry is “getting pressed for land supply”.

“While it may appear that there’s a fair bit of land out there, the take up is higher than production,” he said.

“The big element of production is that there’s a lot of land out there with constraints, including sewer, storm water, water supply and zoning.

“It’s imperative that council works hard at alleviating those issues.”​

The data shows that house sales in Wagga in the 2018 financial year was 1164, representing an increase of 8.9pc.

John Mooney Real Estate director Jacinta Kelly said growth had been “fairly steady” with a strong demand particularly in Central Wagga and Turvey Park.

“As well as for small acreage lifestyle houses,” Ms Kelly said.

“In Wagga, people are able to upgrade to other areas because of affordability – for example with acres in Spring Vale being achievable.”

Ms Kelly said that in the past two years, 35pc of their sales were with buyers from outside the Riverina.

“If they are relocating from metro areas, they’re more likely to have bigger budgets,” she said.

“I wouldn’t say that it’s pushing prices, but it’s helping.”

The data by Wagga’s real estate agents aligns with Domain’s September House Price Report, released on Thursday, showing that regional NSW prices have risen.

This includes Richmond Valley, Kiama and Port Stephens, which all recorded the highest year-on-year changes at 17.9pc, 14.5pc and 13.2pc, respectively.

The highest median price was $950,000 in Kiama followed by $577,500 in Port Stephens. 

Domain senior research analyst Nicola Powell said while the banks’ stricter lending conditions were affecting the major cities, they hadn’t had the same effect on regional areas in NSW.

“I think it’s really interesting that tighter lending conditions haven’t affected the regional areas,” Dr Powell said. 

There were a number of reasons for this, including the attraction for first-home buyers to more affordable homes and banks were more likely to loan money where their exposure, or the debt-to-income ratio of home buyers, was likewise lower.

In Sydney, the Domain report shows that prices have fallen 6.5pc in the past year

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