Interim Executive Director Michael Kerschbaum said the agreement would deliver real outcomes for Tasmanians struggling to find suitable accommodation.
"Today's announcement is focused on one thing that genuinely improves affordability: increasing the supply of homes," Mr Kerschbaum said.
More than 2,100 homes under the agreement will be allocated for first home buyers, supported by Commonwealth funding for enabling infrastructure that would otherwise delay or prevent development.
Mr Kerschbaum said targeted investment in infrastructure was critical to turning approvals into completed homes.
"Too often, projects stall because roads, services and utilities are not in place," he said.
"By funding enabling infrastructure upfront, governments can remove major delays and accelerate delivery."
Mr Kerschbaum said the announcement demonstrated a welcome, coordinated approach to tackling long‑standing supply challenges.
"This deal sends a clear signal that both the State and Federal level of government are serious about addressing the structural issues holding back housing supply, and therefore affordability," he said.
"A coordinated approach across planning, infrastructure and delivery is essential, which is why the Property Council strongly supports today's announcement."
