NSW's Wagga Wagga hit by oversupply of retail space, at bottom of market: HTW

Property ObserverMay 24, 20160 min read

The city of Wagga Wagga in NSW was at the bottom of the retail market cycle in valuation firm Herron Todd White's May retail clock, a simple broad brush means of suggesting where property prices are, and which direction they're headed to.

Wagga Wagga is experiencing an oversupply of retail properties on the yardstick of rental vacancies, and rental rates are also showing a declining trend, the report shows. A flat local economy also doesn't seem to help the situation, as evident from HTW's retail market indicators.

There is also a significant value difference between quality properties that have national tenants, and comparable properties with local tenants, according to HTW. 

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Property Observer

Tags:
Commercial Sales
Retail Market
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