Projections from demographic consultancy firm .id show that 607 new dwellings will be required each year over the next five years in order to meet the NSW government's target for the city.

Three-hundred and six housing lots were produced in the 2019-20 financial year, according to the most recent land monitor report, released this week by Committee 4 Wagga, Regional Development Australia - Riverina, and the Housing Industry Association.

Wagga builder Wayne Carter, a Housing Industry Association committee member, said it would be a "hell of a challenge" to construct 607 homes each year.

"There's a lot of variables in that. You've got land supply. You've got infrastructure being met by Wagga City Council. You've got zoning proposals to be attended to," he said.

"That's a lot of blocks. We're nowhere near that at the moment. But at least with our report we're knowing where we're going."

The release of the land monitor report comes as councillors this week gave the green light to rezoning a 60-hectare parcel of land to build up to 750 new homes over the next decade in the city's booming northern corridor.

The northern growth area, which will be the focus of a forthcoming Wagga City Council planning report, was home to the biggest share of new lots in 2019-20.

Gobbagombalin led the city with 37.6 per cent of the 306 new lots, followed by Boorooma with 19 per cent, Lloyd with 12.7 per cent and Estella with 11.8 per cent.

More than 50 per cent of all vacant lots in Wagga are in four suburbs: Gobbagombalin, Central, Lloyd and Boorooma. Lake Albert, Tolland, Estella and Kooringal are home to the next 25 per cent of vacant lots.

Property valuer Chris Egan said not enough land was being released to house a population of 100,000 people.

"That's not going to happen unless there's big changes with land releases in this area," he said.

"Up until now the infrastructure development has been good but there needs to be a lot more if the population is going to increase dramatically."

Council's director of regional activation Michael Keys said council was planning for the city to accommodate its population target by using existing urban release areas, the new growth area to the north and infill development across the city.

He said council would be guided by its Local Strategic Planning Statement, a vision for the next two decades adopted in February, which he said "focuses on a capacity rather than a timeframe".

He said council was working with the NSW government to "fast track" existing planning proposals, with a number of applications under way that would add approximately 1500 lots to the Wagga market.

"In addition, the development of the Northern Growth Structure Plan is under way to facilitate rezoning of land for residential purposes along Coolamon Road north of Charles Sturt University," he said.

Wagga is unlikely to hit its 100,000 goal by 2038, according to Australian Bureau of Statistics data, though major industrial projects such as the special activation precinct are expected to create thousands of new jobs in the city within the next decade.

Committee 4 Wagga CEO Brett Somerville said accessibility would be critical to the success of the northern growth area, saying he'd like to see the duplication of Gobbagombalin Bridge "well and truly executed" within the next 20 years.

RDA Riverina chief executive officer Rachel Whiting said a mix of affordable and high-end housing, smaller blocks and rural lots would be needed in Wagga to keep up with a boom in employment opportunities.