A new deal signed between the Commonwealth and Tasmanian governments is expected to unlock around 4,000 new homes in Tasmania, with up to 2,101 reserved exclusively for first home buyers.
The deal is the latest struck under federal Labor’s 100,000 homes for first home buyers program, following agreements with South Australia and the ACT.
The Commonwealth will contribute $165 million, including $115 million in concessional loans and $50 million in grants.
Tasmania and local councils will also contribute funding and land.
Enabling infrastructure such as roads, water and sewerage is planned for Brighton, Sorell and Meander Valley, with the goal of unlocking around 2,700 homes.
Almost 1,100 of those homes would be reserved for first home buyers.
A $35 million concessional loan will fast-track that work while the state completes its budget processes.
A further $80 million in concessional loans is earmarked to support more than 2,000 additional first home buyer homes around Hobart, Launceston, Devonport and Burnie.
The first homes are expected to reach the market in 2027-28.
Federal Housing Minister Clare O’Neil said the deal would open the door for more Tasmanians to buy a home.
“We’re determined to make it easier for young people and first home buyers to achieve the dream of owning a home — with no competition from investors,” O’Neil said.
“Thanks to this agreement … there will be thousands more Tasmanians getting the keys to their own home.”
Housing Minister Kerry Vincent, a former mayor of Sorell, welcomed the investment in his home region and beyond.
“Every single house built in Tasmania makes a difference and this partnership is a huge win for the entire state,” Vincent said.
“We want as many Tasmanians as possible enjoying the security of owning their own home and delivering more supply is central to achieving this goal.”
