State tipped to land $758 investment

By Staff Reporter

A major construction windfall in the pipeline for one of the nation’s smallest states could present potential opportunities for investors, according to recent Australian Bureau of Statistics figures.

Tasmanian premier Lara Giddings, said that the predicted figure of construction and engineering activity totaled $758 million in March, or an 81 per cent increase for the quarter.

This is one of the largest increases on record, following a flat period for the construction industry and is a ‘strong sign’ of a recovery and a ‘confidence boost’ for the Tasmanian economy, Ms Giddings said.

Many of the major projects will be concentrated within Hobart, with some underway or about to commence.

This includes the Institute of Marine and Antarctic studies, set to be complete mid 2013, a $44.7 million build for the Menzies Research Institute in Hobart, a $100 million redevelopment of Hobart’s Myer and a$35 million renovation for the Tasmania Museum and Art Gallery, Hobart.
Bunnings have also recently confirmed plans to build a second store in Launceston.

Australian Property Monitors’ senior economist, Andrew Wilson, said that a number of statistics are surprising for Tasmania.

“I didn’t think I’d be saying this, but it looks like there’s an upturn after such a long flat period,” Mr Wilson said of the recent property and economic environment.

“But we need to make sure that this isn’t a ‘false start’ for the Tasmanian economy and that it will continue on.”

State tipped to land $758 investment
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%