A 44-lot subdivision of one-acre blocks of land on Gregadoo Road before Wagga City Council

The development would see three large lots divided into 44 one-acre blocks of land as part of council's Gregadoo Road Proposal.

The total 22-hectare swathe of land sits between Gregadoo Road and Boiling Down Road to the south and would add much needed stock to a tight property market across the city.

Stephen Jay and Brett Allen - of Allens coaches - are behind the development with the land owned by both families for decades.

Mr Jay said 42 of those one-acre blocks will be available to the public, with two retained by the developers, and as a local, he's happy to be contributing to the growth of the area.

"Wagga is a great place to live, a great place for families and it's a very strong regional centre. And I just hope that it will attract, hopefully, more professionals to the town," he said.

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"The land is not going to be dirt cheap, but it's not going to be expensive. So, it'll be someone who ideally wants some land and wants to build their house or forever home and raise a young family or retire On it."

Independent property valuer Chris Egan said one-acre blocks are a rarity in the city and these plots could attract a premium price.

This type of development gives buyers "city amenity with rural lifestyle" and thee blocks could go for anywhere between $400,000 and $500,000, he said.

Mr Egan said the lack of available land in the city is having a serious impact on the wider economy, and could stymy future growth.

"There's a lack of blocks in Wagga freely available," he said. "The biggest problem with businesses in Wagga is getting staff and the second biggest problem is housing staff. And if we want professionals coming to the region we need to provide them with a variety of residential options.

"There's very strong demand for all forms of rural residential accommodation in this city and we need to have a good forward look at rezoning so that we can plan well into the future," he said.

Mr Jay isn't sure how much the blocks will be sold for at present, but agrees that they will be an attractive addition to the Wagga market.

"We've got no idea at that stage to be honest, with interest rates moving, availability of land ... but there's really no one-acre blocks available right now," he said.

"We'll just meet the market, whatever the price is."

Depending on any community objections and council approval, Mr Jay would like to have the first blocks available by the end of 2023.

The Gregadoo Road Proposal saw a change to the land zoning and minimum lot size provisions for land on Gregadoo Road and Tallowood Crescent, Lake Albert.

Mr Jay's $2.64 million subdivision is part of a plan that could see up to 122 properties around that area.

The 44-lot plan is currently on exhibition alongside a separate development application for a four-lot subdivision on the adjoining 5 acre block, which sits at 15 Tallwood Crescent.

This is the latest in a number of plans to develop the southern section of the city. Another subdivision recently went before council for a similar sized parcel of land in nearby Springvale.

Developer Aaron de Jong submitted plans to turn his 100 acre "hobby farm" into "rural residential allotments" with up to five acres each.

Mr de Jong recently obtained a rezoning to residential usage and expects the blocks to retail at $650,000 per block.

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