A “Cheapies with Prospects” report was undertaken by “hotspotting” website founder Terry Ryder and lists the best places in the nation to invest.

Mr Ryder said North West NSW including Moree was listed because it was one of the richest agricultural areas in the country.

“Moree seems to have a very strong agricultural economy, a healthy tourism industry and good prospects like the inland rail link that make the area quite prosperous,” he said.

Mr Ryder conducted the study after finding many people wanted an investment property but could not afford the prices.

He located areas that sold properties for $200,000 or less and had the prospect of growth.

Typical houses in Moree sold for an average of $175,000.

Eight out of 10 dwellings in Moree are houses and the median price for houses in 2007, according to Australian Property Monitors, was $175,000 based on 142 sales.

Typical rental yields were in the six to seven per cent range.

Ray White residential salesperson Jason Humphries said investors were attracted to Moree because a large number of properties were available under $200,000 and were showing good returns and value for the price.

“A large number of these properties are either neutrally or positively geared allowing investors to increase their investment portfolios,” he said.

Some of the drawcards for Moree included its slogan as the “artesian spa capital”, the gas pipeline project, location close to important centres and Mehi River, facilities like the golf course and services like education, transport and health amongst other things.

Mr Ryder said people tend to overlook the possibilities of investing, living and working in regional towns.

“People tend to overlook that there is life beyond the cities.”

Raine and Horne principal John Atkins said since January of this year records show that house sales have undoubtedly declined to a much lower volume nor are homes being transacted at those high prices experienced during the boom.

This has opened the door for the smart buyers to step in and take advantage of the range of listings being offered.

“This has opened the door for the smart buyers to step in and take advantage of the range of listings being offered,” Mr Atkins said.