The pending federal election, upcoming holidays and capital cities' downfalls are all factors contributing to the local market slowdown, but agents say it is still a good time to buy.
The Australian Labor Party shadow treasurer Chris Bowen announced changes to negative gearing and the capital gains tax discount would commence from January 1, 2020, if the ALP were to win the federal election in May.
Fitzpatricks Real Estate director Paul Gooden argued this policy would affect the confidence of investors.
"There are concerns with polls telling us that Labor will get in and if they do tamper with the capital gains tax and negative gearing, it will affect the confidence of investors," Mr Gooden said.
"However, these changes wouldn't be retrospected as those who buy property now won't be affected before the pending election."
Mr Gooden said Wagga continues to be an affordable market that is isolated from the downturn witnessed by capital cities and people should not be influenced.
"We're rooting the seasonal slow down as a flow on from the Sydney and Melbourne markets and we are seeing a sales drop off somewhat but we need to be careful that we don't read into those figures as our local market is quite resilient," he said.
LJ Hooker sales consultant Jason Pearce said the upcoming holidays are also affecting the local property market.
"There is probably less properties coming onto the market but the slow down is relevant to the properties and there's still good demand, which was evident through the good numbers seen at the openings over the weekend," Mr Pearce said.
"It's definitely still a good time to buy because Wagga's market still remains strong, with stable prices, but it's a little bit quiet due to the election and also because of Easter.
"Easter and Anzac Day are affecting the market because many Australians are taking a 10 day holiday.
"We have noticed that there has been not much investor inquiry, especially if there will be changes to negative gearing and the capital gains tax, but it's still a good time for home buyers," he said.
Mr Pearce said the city's strong industries have created a transient population.
"Sydney and Melbourne are getting a lot of publicity and they're prices are coming back and are over inflated in busy times, but in Wagga with the RAAF Base, the army base and CSU, we have a constant population coming through the town," he said.
"We've also got good growth areas in Gobbagombalin and Boorooma."