Realising economic potential in the regions
When buying a property, one of the most important decisions is location.
Whether you are purchasing your first home or acquiring investment property, the choice you make could determine the level of future returns.
Currently, regional areas in Australia are heating up.
Mining contracts combined with funding towards health, education and infrastructure make areas that once seemed far away and remote suddenly very attractive.
For example, a $400 million agreement to build a 53km railway and and 220kV power line for Hope Downs 4 mine was revealed just today (March 1) - one of many that have been coming through over the last couple of months.
An additional announcement confirmed a new government-funded Regional Australia Institute, an organisation that will aid regional areas in their economic transition.
Regional Australia minister Simon Crean explained that commercial diversification will be a high priority and aims to be achieved through rigorous scientific research and debate.
He said: "If we're going to embed localism in the way we govern, we need a central institute that is connected to our broader regional agenda to deliver benefits for communities across the nation."
The $8 million seed funding will get the project started and perhaps help the regions develop their economic potential.