However, Wagga experts have argued this CoreLogic Riverina report, 12 months from October 2018, doesn't accurately represent the local market.

According to the report, house sales dropped by 6.4 per cent while unit sales dropped 17.1 per cent.

The region saw a small growth of 2.8 per cent in house values, while unit values decreased by 10.9 per cent.

Wagga Remax director Dave Skow said the uncertainty surrounding the federal election likely contributed to the drop in house and unit sales.

"I think it's probably a case Australia wide ... we noticed that there was definitely a shortage of homes on the market mainly around the federal election," Mr Skow said.

"There were a lot of claims about what would happen to negative gearing and tax concessions and benefits for investors ... this created a large amount of uncertainty towards the end of 2018, early 2019.

"We saw that there was a big shortage of stock, mainly because people were sitting on their hands and waiting to see what would happen in that election."

Mr Skow said the data is "skewed" as many smaller Riverina towns do not have units and are predominantly house and land areas.

"According to the census data, there's less than 7 per cent of dwellings in the Riverina that are unit and apartments," he said.

"From the graph, within the last 12 to 18 months there was a spike of about a positive 18 to 19 per cent and then the dip of about 11 per cent.

"I think it's a little bit statistically unreliable because of the low representation of units and apartments in the Riverina."

Mr Skow said the values of units in Wagga can be as little as $110,000 in parts of Tolland, Mount Austin and Ashmont, but there's also more premium villas that are about $400,000 to $500,000.

"There's a really broad price range so it would only take half a dozen of those to be at the lower end of the scale to really throw those averages out," he said.

Similarly, independent property valuer Chris Egan said there is high demand in Wagga for premium, upper-end units and an oversupply of lower quality units.

"Those that don't keep their units in good condition, the value slips because it's a direct value to rents," he said.

"There's a lack of supply with the upper-end market and the way demographics are going, we're getting a lot of middle-aged people who are prepared to pay a premium.

"Inversely, there's an oversupply of non-renovated units that are for sale."

Mr Egan also contributed external factors outside of Wagga, such as the drought, that may be contributing to this large drop in unit values.