State of Market - TAS April 2012

Fast Figures

• 28.6%: Percentage drop in the number of first home buyers houses financed in 2009/2010 compared with 2008/2009(ABS)
• 5.17%: Average rental yield for houses in Greater Hobart (RP Data)

Government group to review access from mainland

A new government ‘access strategy’ is to be implemented to fuel growth in the economy and tourism markets, tourism minister Scott Bacon has announced.

Air and sea services connecting Tasmania to mainland Australia are important to the state’s growth and any new links are likely to make the Apple Isle a more attractive destination both for residents and for property investors.

A working group will aim to identify a measurable approach to development and performance.

“The working group understands the broad social and economic impact of access to and from Tasmania, and a key focus of this group is to consider these elements when developing strategies for improving access,” Mr Bacon said.

Launceston to be next Tassie growth spot

Launceston will become Tasmania’s next growth area, building on tourism and council-funded development, according to a new report.

With tourism contributing more than $300 million per annum to the Launceston economy, the city council has suggested infrastructure and facilities be funded in the area to stimulate growth in Tasmania’s northern region.

Over $1.2 million has been pledged to facilities and infrastructure over a two- to three-year period.

“Facilitating tourism investment, particularly into the use of inner city heritage buildings and stimulating inner city living for permanent and temporary users [is a point of focus],” the report found.

The spending will contribute to an overall goal of making the region one of the most popular tourism sites within 10 years.