Construction loans on rise

Elise Archer,Minister for Building and Construction

The Tasmanian Government remains focused on growing our economy and creating even more jobs for Tasmanians.

We are delivering our plan to rebuild a stronger Tasmania, and the recent ABS construction loans data is yet again clear evidence that our plan is working.

In January 2021, Tasmania was one of the few jurisdictions in Australia to maintain its record construction activity, with the number of construction loans at 149, just one less than the record high of 150 in December 2020.

In a strong sign of confidence across the building and construction sector, the number of construction loans in January was nearly triple the number 12 months earlier before the pandemic, and was higher than the national growth over the same period.

These results do not happen by accident and are a consequence of our Plan to grow the economy and create jobs. Our Construction Blitz and HomeBuilder is leading to more jobs, with construction-related job vacancies nearly doubling in 2020.

The 2020-21 State Budget provides a landmark $5 billion infrastructure program across the next four years to support around 25,000 jobs, grow confidence and stimulate aggregate demand across our State. It backs Tasmanian businesses by making it easier for them to employ more people, with a $22 million investment to significantly boost jobs for apprentices, trainees and youth employees.

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