Latest property data reveals more regional areas across Australia are recording value declines than increases, yet Wagga is one of few areas that has reported the opposite.
CoreLogic's May data has placed Wagga at number six out of 62 regional areas across the country that have recorded an increase in dwelling values or no change over the year to April 2019.
However, independent valuer Chris Egan said sometimes this data does not allow for a large enough sample to show increases and decreases in value.
"We all know now that there has been a big decrease in capital cities, but in larger regional NSW towns like Wagga we've have very stable prices," he said.
"There hasn't been a decrease in value at all and Wagga has always had a large vacancy rate in rental accommodation and a lot higher rental returns compared to capital cities.
"This means that investors like investing in regional areas because of the stability and because we don't get the big capital gains or losses they get as well."
Despite the headlines of weak capital city housing markets, regional areas have generally fared much better in terms of value growth.
The data showed Wagga has reported an 8.3 per cent increase in a year and has barely declined at 0.3 per cent from its market peak.
Mr Egan said recent economic events which did not affect the city's market is proof the stability is likely to remain.
"We've seen the election and Royal Banking Commission that have thrown uncertainty in the market and they've passed and we've since seen an injection of positivity with more inquiries," he said.
"The data shows that it's a stable market and we haven't decreased substantially from its market peak, unlike the capital cities which have decreased substantially."
Mr Egan said the city's transient population, the university, hospital and defence bases are all factors leading to the success and stability.
"Wagga is doing well because there is a lot of government money that is being injected into the town as well as CSU, the army bases, Wagga Base Hospital," he said.
"There is strong demand in growth areas and further housing subdivisions.
"Wagga ticks a lot of boxes for the services required for people live happily."