New rental vacancy figures have highlighted the desperate need for more rental properties in Tasmania and Labor has a plan to help address the issue.
PropTrack’s Market Insight Report showed that Tasmanian rental vacancy rates outside of Hobart had dropped to 0.81 per cent, making regional Tasmania the tightest regional rental market in the nation.
While Hobart’s vacancy rate rose slightly, it still sits at a very low 1.02 percent which means finding a place to live for renters is still a very tough ask.
A future Labor Government will ease the rental crisis in Tasmania by incentivising the development of 1,000 new private rental homes over five years.
This statewide initiative will make renting easier and more affordable for Tasmanians by adding supply to the market, and will operate in addition to other social housing commitments.
Build to rent initiatives have proven to be highly successful in creating more options for renters in other Australian states.
In addition to incentivising the development of rental properties, Labor will also build a 50 home development in Government.
After 10 years of Liberal Government, renting has never been less affordable or more difficult in Tasmania.
The Liberals have neglected housing for too long and Tasmanians are paying the price.
The bottom line is, Tasmania needs more rental properties and Labor will help deliver them.