Wagga Wagga Blog

The Wagga Wagga Commercial property market has experienced a huge increase in demand over the past six months, resulting in multiple sales and leasing transactions across the city. Raine & Horne Commercial has been leading the way with over $12M worth of commercial property transacted during this period.

A slow start to 2020 was impacted by the Covid-19 pandemic in the second quarter of the year. R&H Commercial agents were kept busy negotiating rental relief for tenants and ensuring businesses could sustain the effects of the downturn in trade during this time. Raine & Horne successfully secured several new leases during the pandemic as well as retaining existing tenants throughout the difficult trading period.

Since 1 July the commercial property market in Wagga Wagga has improved dramatically. This can be attributed to continuing low-interest rates, government support for businesses, a reduction in Covid-19 case numbers, and an improving rural economy. Many capital city investors are now looking regionally to areas such as Wagga Wagga as a safer place to invest in commercial property. The region has recovered very well from the pandemic and business sentiment is very high across the city, with many businesses reporting strong growth in turnover.

Commercial leasing has also improved substantially over the past six months with several larger national tenants looking to take up space in Wagga Wagga. Raine & Horne has negotiated over 30 new leases during this period, which encompasses a large percentage of the overall number of leasing transactions across the city.

Overall, our outlook remains positive leading into 2021, with continuing demand for commercial property in Wagga Wagga. Commercial yields have already reduced, which has increased capital values. We are currently experiencing a shortage of good quality commercial stock.

If you are considering selling & would like a free appraisal or would just like some general advice about your commercial property, now is the time to contact the team at Raine & Horne Commercial.

Phone Craig Tait 0428 128 357 or Dylan Wooden 0438 258 954.