A QUAINT town just 30 minutes north-west of Wagga is experiencing a housing boom and is creating positive flow-on effects to businesses and nearby towns.
Coolamon has been listed as one of the best suburbs for long term growth.
According to the latest data by OpenAgent, an agent comparison site, the town has also produced high rental yields and positive changes in rental rates over the past five years.
It is notable for its main street charm and being home to the Coolamon Cheese Factory.
Ray White Coolamon agent Errol Sutherland said the town is gaining interest from buyers looking for a tree change due to the commercial strength of the town.
"We've got a situation in the town where properties are not selling as soon as they've been listed, but there has been a lot more interest than in the past," he said.
"The cheese factory has brought a lot of new people to the town and we've seen other businesses opening up.
"There's a lady who's a seamstress, a books and antique shop and a boutique delicatessen opening in the new year; there's lots of new additions to the town commercially."
Mr Sutherland said Coolamon has all the essential services, such as a hospital, and is attracting people of all ages looking for rural living that is not too far from a bigger town.
"More people are coming from the coast, like Sydney and Canberra ... you've got the best of both worlds here and the council is very active," he said.
"The gratifying thing is that there are all age groups interested; there's young families, retirees and even parents wanting to be closer to their children living in Wagga.
"I've never had anyone that has been, who has been disappointed."
The agent has lived in Coolamon for about seven years and said the increased housing activity has driven demand in Ganmain, just 15 kilometres out.
"Ganmain is now enjoying a lift in numbers with the advent of the increased popularity of Coolamon," Mr Sutherland said.
He said this could be due to people no longer being able to afford to buy in Coolamon and are preferring the land price nearby.
"The growth in Coolamon will continue but one of the nice things is that the growth is at a rate it can handle," Mr Sutherland said.
"One local builder already has seven houses already booked in for construction next year.
"The village atmosphere is a significant part of the charm and both council and the residents are mindful of that and we'll work hard to retain that."
Coolamon's median house price is $295,000 and according to the experts, it's among three suburbs that are best for investing in, along with Mount Austin and Turvey Park.
Coolamon's median house price has experienced more than an eight per cent growth over 20 years.
Carson Teh, data analyst from OpenAgent, said that rental yields and changes in rental rates are important for those looking to make a return on investment in the short-term.
"Rental yield represents the amount of income produced as a percentage of the property's value whereas increases in rental rate suggest that the rental market has been active," said Mr Teh.
Christa Lindsay, a real estate agent from RE/MAX Elite in Wagga, has noticed certain city suburbs are popular with people hoping to invest in houses.
"Those looking to invest specifically into houses would be focusing on Estella, Gobbagombalin, Boorooma, Bourkelands, Glenfield Park and Lake Albert," said Ms Lindsay.
All the areas have a vacancy rate below two per cent, which indicates that there is a low supply and high demand for rental properties.
"Vacancy rates in and around Wagga are incredibly low at the moment, making it an ideal time to consider investing in the area," said Mr Teh.