The magazine released its ranked top 100 list this month after canvassing 15,000 suburbs nationwide.

Dubbo was outranked by fellow Evocities Wagga Wagga (12), Armidale (28), Bathurst (30) and Albury (98), which all made the top 100.

The magazine’s editor, Nila Sweeney, revealed Dubbo had almost “made the grade” coming in 108th, followed by the remaining Evocities Orange (119) and Tamworth (111).

“Dubbo, Tamworth and Orange have all been featured in Your Investment Property as hotspots in the recent past,” she said.

“Looking at Dubbo’s fundamentals it is a very good investment area.”

In compiling the list the magazine conducted a “thorough process” that involved consulting a panel of “experts” on their top picks before carrying out its own suburb analysis.

Statistics on affordability, employment, demographics, accessibility, rental yields, capital growth and the risk of investing in the area were all weighed up.

“And all factors that affect supply and demand,” Ms Sweeney said.

The magazine then interviewed local residents and examined the area’s infrastructure.

While Dubbo was among

the top picks by one of the

panellists it didn’t make the final cut.

“Some people may not agree with our judgement but we based the decisions on statistics,” Ms Sweeney said.

Orana Real Estate Institute chairman Rod Crowfoot believed Dubbo was a wise investment area.

“Locally we think there are lots of good reasons you would want to consider Dubbo as a good investment,” he said.

“Many metropolitan investors are coming back to Dubbo to invest.”

Mr Crowfoot highlighted figures released last week showing Dubbo’s housing prices in the March quarter had the third fastest growth rate in Australia.

According to Residex data, capital growth in Dubbo grew by 6 per cent in the quarter - the fastest in eastern Australia. Nationwide it fell behind two mining towns in Western Australia.

Evocities is a multi-million dollar campaign aimed at attracting Sydneysiders to seven inland cities.

Ms Sweeney said Orange had previously been considered a “hotspot” because of surrounding mines however investors now believed it had “peaked”.

“Tamworth has good fundamentals and will benefit from the planned investments in the area but is not likely to see growth this year and the next,” she said.

Your Investment Property is owned by Key Media, which also publishes other titles Your Mortgage, Your Money, Australia Broker and a series of trade journals. Key Media has offices in Australia, Canada, Hong Kong and Singapore.