The City of Hobart has welcomed the Tasmanian Government's commitment to triple the First Home Owner Grant to $30,000 for newly built homes, including apartments, describing it as a positive step toward increasing housing supply and supporting first home buyers.
Lord Mayor Anna Reynolds said the announcement complements the City's own work on housing incentives aimed at unlocking more medium-density development in central Hobart.
Cr Reynolds said Hobart urgently needs more homes in central areas to meet demand and grow sustainably.
The City of Hobart is developing a Housing Supply Incentive Policy to help turn existing planning approvals into homes. The proposed package would offer targeted financial incentives for projects ready to start construction, including possible waivers on rates and fees and a five-year rates holiday for eligible developments.
Over the past decade, there have been nearly 700 apartments approved by the City of Hobart that are yet to begin construction.
Cr Reynolds said collaboration between all levels of government and industry is essential.
The City's focus is on medium-density projects of five or more dwellings in areas such as Central Hobart, North Hobart and the waterfront - locations best suited for higher-density living.
Quotes to be attributed to Hobart Lord Mayor Anna Reynolds:
"We welcome this important initiative as a much-needed boost for housing supply and affordability.
"It's encouraging that the grant criteria covers off-the-plan purchases, including apartments, which are vital for increasing inner-city, medium-density housing-a goal the City has consistently supported.
"Continuing with mostly low-density, greenfield housing is not sustainable.
"By supporting apartments and medium-density projects, this policy helps us move toward a more compact, vibrant city.
"The City can't fix this alone. A council-only incentive package won't shift the economics enough to bring medium-density projects to market.
"That's why we're working closely with the State Government, TasWater and others to create a combined package that makes development viable."
