Tasmania set to become an investment hotspot?
Choosing where to buy residential real estate can be a difficult decision, with the resale value of a home largely dependent on several factors.
Projected growth of an area, the proximity of employment opportunities and physical state of a dwelling are all important considerations to take into account.
With this in mind, property investors looking for a real estate purchase may be interested in Tasmania's far north-west region following a recent decision made by the federal government.
The Commonwealth has ruled against heritage listing the resource-rich Tarkine region - paving the way for future mining projects in the area as a result.
"Today's (February 8) decision is very welcome because it provides the industry with the security and confidence it needs to continue to invest and grow Tasmania's mining sector and acknowledges the special indigenous values that exist along the west coast," Tasmanian premier Lara Giddings explained.
With the area likely to see major development as mining projects kick get underway, the local residential property sector could enjoy growth as a by-product.
Resources minister Bryan Green said Commonwealth's verdict would bolster the local economy, and ensure its prosperity in the future.
"As we have said on many occasions, the door is well and truly open for mining investment in Tasmania - and this decision removes any remaining doubts," Mr Green remarked.