A re-elected Liberal Government will boost the First Home Owners Grant for Tasmanians building their first home, making it easier for young Tasmanians and families to get a foot up on the property ladder.
Premier Jeremy Rockliff said the best way to ease housing pressure is to drive new construction across the state - and help more Tasmanians achieve the dream of owning their first home.
"Eligible first home buyers who contract to build their first home will now receive a $30,000 grant - three times more than the current grant amount," Premier Rockliff said.
"This means lower upfront costs, greater financial certainty, and a stronger incentive to build.
"By stimulating new construction across the state, we're backing in jobs, addressing supply, and getting roofs over the heads of Tasmanians.
"By supporting families in home ownership, we help them achieve stability and security, allowing them to put down roots in their community.
"Our nation-leading MyHome shared equity program is already helping Tasmanians with as little as a 2 per cent deposit into their first home, with more than 721 home loans helping over 1,930 Tasmanians into home ownership.
"Under a re-elected Liberal Government, we will increase the value cap for new home construction under MyHome to $800,000, encouraging even more Tasmanians to build under this highly successful program.
"Importantly, if you are eligible for the First Home Owners Grant, this may be used to help satisfy the deposit of the MyHome program.
"Together with MyHome, this means a young Tasmanian family, who are currently renting, could build their first home with as little as a 2 per cent deposit fully covered by the First Home Owner Grant, and making monthly mortgage repayments comparable to or even less than what they were paying in rent."
Property Council of Australia's Tasmanian Executive Director Rebecca Ellston said this is the shot in the arm that industry needs, to build us out of this slump.
"Raising the Grant to $30,000 for the building of new homes will deliver a much needed boost to the construction industry," she said.
"It will also give Tasmania a competitive advantage over other states that have their first home builder grants between $10,000 to $20,000 levels.
"This announcement allows young Tasmanians to enter the housing market, creates more employment in the industry, encourages young people to come home to live and create significant spending in local economies."
The Liberal Government has already stamped out stamp duty for eligible first home buyers purchasing existing homes, and halved stamp duty for off-the-plan apartments, making it cheaper to buy new homes and driving investment in new housing supply.
"Our Liberal Government is backing Tasmanians who want to build and buy a home, while continuing to drive the delivery of more homes, faster, for the people who need them," The Premier said.
"While Labor and the Greens argue, we've been delivering better healthcare, more housing, and responsible cost-of-living relief.
"And we've got more to do.
"But here's the truth: we can't finish the job without a majority Liberal Government.
"Let's get on with it.
"Let's finish the job for Tasmania."
