Owner-Occupied Dwellings 11 % Up On Year 2017-18

Owner-Occupied Dwellings 11 % Up On Year 2017-18

Tasmania Minister for Building and Construction Elise Archer

Tasmanian Housing Sector Continues To Build

Victor P Taffa

Hodgman Government is a strong supporter of the building and construction sector, and we are committed to further investment and jobs across the industry, Minister for Building and Construction Elise Archer said.

“This is why it is no surprise that momentum in Tasmania’s housing sector continues to strengthen, according to data released today by the ABS for June 2019.” Minister Archer said.

In the 2018-19 financial year, there were 1,309 finance commitments for the construction of owner-occupied dwellings. This is 11 % higher than the previous year, and the highest growth rate in the nation, as more Tasmanians embark on their dreams of building their own home.

 

What’s more, Tasmania still remains a great place to purchase your first home. In 2018-19, 1,935 Tasmanians bought their first home, which is 13.4 % more than the previous year, making Tasmania the strongest state for growth in lending to first home buyers.

This positive ABS household lending data follows similarly strong ABS Building Approvals data recently released for last financial year, showing 3,121 dwellings were approved.

This was 9.5 % higher than approvals for 2017-18, which is the strongest growth of any state. Building approvals have now increased from just over 2,000 in the year to March 2014, representing a rise in approvals of more than 50 % since the Hodgman Government was elected.

Recently published HIA Housing Scorecard also confirmed Tasmania has seen the biggest improvement in the nation in terms of building conditions, and now sits second only to Victoria in favourable residential building conditions.

“Tasmania is a great place to live and to build or buy a new home, which is good news for the State and shows the Hodgman Government’s plan to grow the economy and create jobs is working.” Minister Archer said.

Abbreviations:

ABS                Australian Bureau of Statistics