THE COMMERCIAL property market has been bitten by the drought and politics, but real estate agents are finding innovative ways to bite back.
Industrial sales are still strong, but a lack of income for rural retailers has had an impact on the commercial retail market, Ray White Tamworth director Malcolm Campbell said.
"Overall it's interesting, with some of the small retailers struggling we've had to do rent adjustments," he said.
"We've been fortunate that a lot of landlords are willing and capable of adjusting rents for tenants more directly involved in the rural sector.
"There's no two ways, the drought is biting in town."
The election period often impacts the rate of sales as potential buyers and sellers wait to see what political promises will come to fruition.
Labor has announced it will scrap negative gearing by January 1 if it gets in, Burke and Smyth principal Gavin Knee said.
"I don't think people realise how much negative gearing will affect the market if it does roll through," he said.
"On the residential side over 75 per cent of investors are mum and dad's with one property.
"The people who say it's a robin hood tax to take money from the poor and give to the rich are wrong."
The commercial market saw a peak in 2017 to 2018, but by pricing property more reasonably in today's market sellers or leasers can still make a decent profit, Mr Knee said.
"Working with your tenants is the best thing because ultimately the property's worth comes down to whether the property is tenanted or not," he said.
Make sure you don't miss the new Domain commercial property section in Saturday's Northern Daily Leader.