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 vacancy rates in Hobart dropped 0.25 percentage points for the quarter – the largest decline in the country. The vacancy rate sits at 1 per cent.
Tasmanian rental vacancy rates outside of Hobart remain extremely tight at 0.97 per cent – the second lowest vacancy rate of the regional markets.
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 in government the Liberals are in chaos, and 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.