Ramping Up Development

The Property Council of Australia has welcomed the raft of positive announcements in the Tasmanian Government’s State of the State Address.

Executive Director Rebecca Ellston said the Property Council has been clear about the reforms which are required to lead our state’s COVID-19 recovery.

“At a time when our State is trying to build its way out of a pandemic it’s crucial that development is supported.  

“The implementation of an Apartment Code to establish appropriate Permitted and Discretionary assessment pathways for medium-density residential development is something that the Property Council has long been advocating for, and believes will provide the right environment for economic stimulus.

“The Code will fast track appropriate good quality housing supply in built up areas which are close to employment opportunities and established services and infrastructure by providing more certainty and consistency for developers.” Ms Ellston said.

Rebecca Ellston said the Property Council would take a good look at the proposed changes to land tax rates and thresholds in coming days.

“It’s imperative that Tasmania becomes the most attractive place in the nation to invest - and that includes an attractive taxation regime.

“Our state doesn’t have headquartered companies like Melbourne and Sydney and it doesn’t have the populations of these cities either, so we need to build our competitiveness in other areas and this includes land tax.

“Given the changing nature of our state’s cultural and economic fabric in recent years, there’s never been a better time to invest in Tasmania.

“Hard hats and steel caps dominate the suburbs and high-vis vests can be seen right across the Hobart CBD,  demonstrating the importance of the property industry during these challenging times.” Ms Ellston said.

“Projects and developments that keep Tasmanians employed are the real shot in the arm our economy needs right now as we recover.

"With 80 percent of the site physically remediated, it's pleasing to see the State Government providing additional funding to Macquarie Point to accelarate their work and unlock $0.5 billion worth of private investment. This will in turn create more jobs and boost investment within Hobart's CBD."

“The $10 million Headworks Holiday for new residential subdivisions is likely to make a significant difference to unlocking the potential of existing residential zoned land and the consequential housing supply.”

Importantly, appropriate timeframes for statutory approvals by agencies such as local Government, TasNetworks and TasWater remain highly critical for recovery and the Government must be front and centre in not allowing timeframes to be extended by these organisations. The Property Council believes that they must be appropriately funded and have the resources to review and approve work and not become a road block.

Ms Ellston said the Property Council looked forward to continuing a strong and robust working relationship with the State Government and Opposition in the lead-up to the State Election.

Media contact: Rebecca Ellston | 0477 555 227 | rellston@propertycouncil.com.au