Our Strong Plan for more housing

The Tasmanian Government is delivering more housing options with the 2024-25 Budget investing in the things Tasmanians care about, including housing.

The Budget drives the delivery of the 2030 Strong Plan for Tasmania’s Future, which backs the Government’s goal to deliver 10,000 additional social and affordable homes by 2032 for Tasmanians in need.

Minister for Housing and Planning, Felix Ellis, said our plan is taking action right now on the things that matter to Tasmanians, with record investment in cost-of-living, health, housing, education, and infrastructure.

“The 2024-25 Budget makes it easier for Tasmanians to own their own home,” Minister Ellis said.

“We’re committed to making life more affordable for Tasmanians, taking key steps like abolishing stamp duty for first home buyers on existing properties valued up to $750,000.

“Stamping out stamp duty for first home buyers is providing crucial cost-of-living relief for Tasmanians with savings of up to $28,900, making it easier for Tasmanians to break into the property market and realise their dream of homeownership.

“Further, the 2024-25 Budget delivers on our Homes Faster! Partnership Incentive Fund, with $35 million over two years to deliver:

• the KeyHomes program, which will deliver more key worker accommodation in Tasmania’s regional communities;

• the Apartment Development Purchase program, which brings forward larger residential apartment developments, with Homes Tasmania guaranteeing the purchase of 10% of units off the plan to be affordable rentals;

• enhancements to our successful MyHome shared equity program, including lifting income limits, and increasing the equity share;

• an increased Residential Land Rebate Scheme, which offers rebates of up to $15,000 per lot to bring on more affordable residential land;

• no interest loans for headwork charges to stimulate investment; and

• the Medium-High Density Development Grant, offering incentives of $10,000 per unit to get developments out of the ground.

An important part of our 2030 Strong Plan for Tasmania's future is to lock in Tasmania’s position as the best place to live, work and raise a family in the nation.

Minister for Housing and Planning, Felix Ellis said the Tasmanian Government remains committed to 10,000 more social and affordable homes by 2032.

“We’re building a record number of new houses, with 3,000 delivered in the last four years. But for many Tasmanians, their first home lies beyond reach, and rental prices are still too high,” Minister Ellis said.

“The Budget unlocks more affordable rentals, with $7.2 million over two years to expand our Private Rental Incentive Scheme by another 200 homes.

“We’ve also committed an additional $20 million over the next four years to maintain social homes across Tasmania - over and above the existing investment on maintenance.

“The Private Rental Incentive Scheme enables the Government to secure private rentals at market price and provide them to eligible low-income Tasmanians at a reduced rent. This allows Homes Tasmania to work with the private sector to provide affordable rentals to eligible households and ease the cost-of-living to those who need it most.”

The 2024-25 Budget ensures Tasmania continues to be strong, healthy, and safe, backing in the Tasmanian Government’s commitment to our most vulnerable.

“We are providing up to 100 more Rapid Rehousing Homes for women and children escaping family violence with $1.5 million over two years,” Minister Ellis said.

“Jireh House and McCombe House will receive a boost of $1.2 million over two years to continue their good work.

“Homelessness support needs to be more than just a roof over a head, and that’s why the 2024-25 Budget delivers $900,000 over two years to establish Key Development Coaches at each Safe Space site helping Tasmanians overcome trauma and other barriers that can get in the way of finding and keeping a home.”

“This is further supported by an uplift in funding for the peak body, Shelter Tasmania, by $250,000 a year over the next four years to continue providing expert policy advice to the government.”

The 2024-25 Budget secures record investment in the things that matter and ensures Tasmania remains the best place to live, work and raise a family.