The Tasmanian Government has agreed in-principle with the Australian Government to lock in 4,000 new homes across the state, including up to 2,101 homes exclusively for first home buyers under the 100,000 homes for First Home Buyers program.
The Commonwealth Government will provide $165 million in support for the deal through $115 million in concessional loans and $50 million in grant funding. The agreement will also include funding and land contributions from the Tasmanian Government and local Tasmanian councils.
The program will deliver enabling infrastructure in Brighton, Sorell and Meander Valley, unlocking around 2,700 homes, with almost 1,100 reserved for First Home Buyers under the program.
“Every single house built in Tasmania makes a difference, and this partnership is a huge win for the entire state,” said Tasmanian Minister for Housing, Kerry Vincent (pictured).
“We welcome this investment by the Australian Government into Tasmania, and I look forward to thousands of extra homes being built in high growth areas, especially the 2,101 being built for first home buyers.
“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.”
The Australian Government will provide a concessional loan for up to $35 million to enable Tasmania to commence the enabling infrastructure projects sooner, alongside undertaking necessary state budget processes.
“Thanks to this agreement we’ve reached with the Tasmanian Government, there will be thousands more Tasmanians getting the keys to their own home,” said Federal Minister for Housing, Clare O’Neil.
The state will also access concessional loans of up to $80 million to support the construction of more than 2,000 new homes for first home buyers around the state, primarily around key population centres of Hobart, Launceston, Devonport and Burnie.
The first of the new homes will be delivered to market from 2027-28.
