State of Markets - TAS December 2012

By Reporter 03 December 2012 | 1 minute read

Essential information, plus expert insight on what is shaping the national property market...



Fast figures

  • 2.7%: Vacancy rate in Hobart (SQM Research)
  • $492,000: Median value of house in Hobart CBD (Residex)
  • 7.3%: Unemployment rate in Tasmania (ABS)

$84 million mill to power jobs
Over a thousand jobs will be created directly, and indirectly, through a new project in one area, according to federal regional Australia minister, Simon Crean.

Funding of $84 million has now been secured for Tasmania’s Boyer Mill, which will create 330 direct jobs, 100 jobs in the construction phase and 900 indirect jobs, Mr Crean noted.

"The ramifications for not supporting this project could have been dire given the mill supports over 1,200 jobs and injects $140 million into the local economy each year,” he said.
The mill, based in New Norfolk, will see the funding injected in over the 2013/2014 financial year.

"This is an important investment in Tasmania's economic future and builds on the Tasmanian Forests Intergovernmental Agreement (TFIGA) and the Australian government's $120 million for economic diversification,” Mr Crean continued.

Big plans for Hobart rail yard
A proposed $50 million redevelopment project slated for Hobart is one step closer to fruition.

The 8.4 hectare site of the Hobart rail yards has been called a ‘once-in-a-generation opportunity’ by minister for economic development, David O’Byrne, and a new committee has now been appointed to oversee the project.

The new Macquarie Point Development Project Steering Committee will provide a mixture of infrastructure planning, development, policy and legislation, urban design and corporate governance expertise.
"[The] appointments give Tasmanians - including stakeholders - a direct and convenient opportunity to have a say about what this site should offer and look like in coming years," Mr O’Byrne said.

Part of the committee’s responsibility will be to seek out public consultation from Tasmanians.

State of Markets - TAS December 2012
spi logo

Get the latest news & updates

Join a community of over 100,000 property investors.

Check this box to receive podcast updates

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.