State of Markets - TAS May 2012
Essential information, plus expert insight on what is shaping the national property market...
TASMANIA
- 861,900: Tourism visitors for year ending September 2011 (Tasmanian Visitor Survey)
- 21.7%: Proportion of industry generated by manufacturing (ABS)
- 2.2%: Vacancy rate in Hobart (SQM Research)
‘Asian Century’ to benefit Tasmania
Tasmania will be positioned to grow with the coming ‘Asian Century’, according to Premier Lara Giddings.
Industry and employment are expected to expand, with Asia’s middle class growing from more than 500 million people currently to over three billion people in 20 years, said Ms Giddings.
“These are the future consumers of Tasmanian wines, dairy, tourism, education and other high quality services and products,” she said.
China is the largest consumer of Tasmanian exports, accounting for 20 per cent, or $631 million of total exports. A White Paper on ‘Tasmania’s Place in the Asian Century’ is being commissioned to indicate how the state’s residential and commercial industries can benefit.
“The White Paper will take the next step of detailing what opportunities that economy can exploit,” Ms Giddings said.
Coastal planning requirements may change
Coastal planning frameworks may change under a new Tasmanian Coastal Act, according to the Tasmanian Minister for Climate Change, Cassy O’Connor.
During a conference with the Australian Coastal Councils Conference, Ms O’Connor said that climate change should be considered in planning guidelines.
“To manage this properly, I believe we need a Coastal Act that embeds key principles for managing and protecting our coasts in state legislation.
“This would enable state and local governments to develop strong planning and management frameworks, and support local communities, and prepare for long term climate change adaptation strategies,” she said.
Developers would need to consider a Sea Level Rise Allowance under this arrangement.
Tasmania has over 5000km of coastline.