Housing Supply – Tasmanian Government Assistance Package

On 16 March 2021, the Tasmanian Government announced a comprehensive package to assist with increasing housing supply statewide.

Some of the initiatives include:

• a $10 million ‘Headworks Holiday’ to encourage residential land-owners to subdivide their land to increase land supply. It is estimated that approximately 5,000 hectares of privately-owned land could deliver approximately 60,000 lots for residential development across the state;
• further support for first home buyers, and to motivate pensioners/empty-nesters to downsize, with the “stamp duty concession threshold to increase from $400,000 to $500,000, to reflect current market conditions”;
• implementation of an Apartment Code to “make it easier, faster and simpler for developers and landowners to meet the growing demand for inner urban apartment living”;
• “providing a streamlined ‘no permit required’ approvals pathway for landowners to construct ancillary dwellings, such as granny flats or self-contained studios, on their existing properties” and a $10,000 grant for “the first 250 new ancillary dwellings that are made available for long-term rental for more than two years”, to help meet demand for rental properties; and
• “further refine our HomeShare and Streets Ahead programs this year to help more Tasmanians into their own home.”

The Government is yet to release any further details about the above initiatives at this stage.

The full press release from the Premier’s office is available here: http://www.premier.tas.gov.au/site_resources_2015/additional_releases/comprehensive_package_to_increase_housing_supply_statewide