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Property News

Rental property demand to rise in north Australia?

May 25, 2012

Increasing the population of north Australia would be a positive move for the area, many people believe, potentially raising demand for rental properties in the area.

Carried out by Newspoll on behalf of the Institute of Public Affairs, new research found that 63 per cent of Australians believe the region would benefit from a population increase.

Project director John Sipp said: "Australians realise that a prosperous North Australia will benefit the whole country.

"They want to see policies put in place that will stimulate economic and population growth in these under developed areas."

Findings of the study showed that Western Australia had the highest proportion of people showing support for the region's increase, followed by New South Wales and Victoria.

Efforts are currently being made to provide funding to the tourism sector in the Northern Territory, potentially bringing benefits to those with a retail lease in the state as well as various attractions.

Tourism minister Malarndirri McCarthy revealed that $311,320 of funding would be allocated to several projects throughout the area so that they could develop their offerings and create new products.

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