Rural housing may just boom with the Federal Independents.

According to CommSec chief economist Craig James, “If you have an Independent member representing rural areas, such as Tony Windsor or Bob Katter, seeking greater population growth in rural areas, we may see more policies directed to this measure.”

James stressed that Labor and the Coalition hold no differences on housing policy. He argued that Independents, who want increased population growth in the rural areas, could direct the housing policy towards these areas in the event of a minority Federal Government.

However, James quickly said business sector still determines the value of the Australian dollar and the financial markets. He insisted that regardless of whether Labor or the Coalition formed a minority Government, the Australian economy remains unchanged.

James dismissed fears a minority government could be negative for business. He said, “"If a major party had to water down its economic credentials to form government, then that would clearly be a negative outcome for markets – and that doesn't appear the case with three to four well-regarded Independents likely to hold the balance of power.”

A public policies, he said, would have gone through a thorough screening with all parties trying to maintain public support.