Tasmanian Dwelling Unit Approvals Up 19.1 % Year To February 2019

Tasmanian Dwelling Unit Approvals Up 19.1 % Year To February 2019

Tasmania Minister for Building and Construction Sarah Courtney

Continued Growth In Tasmanian Building Approvals

Victor P Taffa

Australian Bureau of Statistics figures released today confirms Tasmania continues to lead the nation in the annual growth in residential building approvals, the only State or Territory to register positive annual growth.

Tasmanian dwelling unit approvals over the year to February 2019 grew 19.1 % in trend terms, while national building approvals declined 21.7 % over the same period, Minister for Building and Construction Sarah Courtney said.

Confidence of Tasmanians to build more homes is a clear demonstration that while mainland Australia dwelling approvals are going backwards, the Hodgman Government is working hard to support the housing market and the building and construction industry to encourage housing development so we can increase Tasmania’s housing supply.

“Nominal value of residential building approvals has also continued to increase strongly, up by 20.1 % in the year to February 2019 in stark contrast to the decline of 5.4 % experienced nationally.” Minister Courtney said.

Whilst this news is positive for Tasmania’s housing supply, the Hodgman Government is working through our Affordable Housing Action Plan 2019-2023, providing $125 Million to deliver an extra 1,500 new affordable homes to Tasmanians.

“In addition, we have extended the $20,000 First Home Builder Boost, provided stamp duty relief for pensioners downsizing, removed red tape to make it easier and quicker to build homes, and rezoned surplus government owned land to enable more homes to be built.” Minister Courtney said.