A re-elected majority Liberal Government will help to unlock the Great Australian Dream of homeownership for more Tasmanians with our new $35 million Homes Faster! package.

This is a comprehensive suite of targeted measures to fix Tasmania’s housing supply challenges that have grown as the economy has strengthened under our Government.

“Our 2030 Strong Plan for Tasmania’s Future is all about taking more action on the issues affecting us most right now, particularly housing,” Premier Jeremy Rockliff said.

“When Tasmanians have a key to their own home, they also unlock countless opportunities. But, to put it simply, we need more homes.

“We’ve delivered a record 3,000 homes over the last four years, but for many Tasmanians, their first home still lies beyond reach, and rental prices are still too high.

“We’ve already announced that we will stamp out stamp duty, with a 100 per cent discount for houses up to $750,000 for first home buyers.

“Now, we’re taking the next step to fix the supply issue with a $35 million Homes Faster! fund to build hundreds more houses, apartments and units over the next two years.

“Homes Faster! will quickly turn plans on a page into bricks and mortar homes, building hundreds of homes for Tasmanians right across the state.

“First, we will cut stamp duty in half when Tasmanians buy a new apartment or unit off the plan or under construction, up to a value of $750,000 for two years.

“Second, we will add a $10,000 per unit incentive for developers with up to 50 units, to get more new infill medium or high density units built close to identified key development areas.

“Third, we will provide short-term interest-free loans up to $1 million for medium density units and apartments to assist with early headworks charges.

“We need more houses, apartments and units for Tasmanians to live in or rent, and every single one of these measures will turn plans into reality, sooner.

“This is a trifecta of wins for Tasmanian homeowners, renters and our building industry too.”

Minister for Construction and Housing Nic Street said other measures in the Strong Plan for Housing would also help to unlock hundreds more land lots and in-turn homes.

“We will boost the existing residential land rebate program, offering a rebate of actual costs incurred up to a total of $15,000 per lot up to a maximum of 40 lots,” Minister Street said.

“This can go towards water and sewerage infrastructure, power infrastructure and also includes NBN, which wasn’t previously covered, and will bring forward at least another 667 lots to market over the next two years.

“We will also provide immediate incentives to bring forward several larger residential apartment developments by Homes Tasmania, guaranteeing the purchase of 10 per cent of units off the plan to be managed as affordable rentals from at least one approved project in the South, North and North West.

“We’ve listened to local councils, and will work with them to secure finance while providing 40 per cent Homes Tasmania equity to provide key worker homes on agreed council land.

“Finally, we will continue the MyHome program to give home ownership opportunities to even more Tasmanians, with an increased maximum shared equities from $200,000 to $300,000, and lift the income limits by 25 per cent for co-owners to qualify for new construction from $107,580 to $134,475.

“Only a re-elected majority Liberal Government and our 2030 Strong Plan for Tasmania’s Future will make it easier for Tasmanians to own their own home.”

The total cost of this policy is $35 million.