- House prices increase 18.1% in Regional Tasmania
- First home buyers priced out of market
- Hobart rent increase jumps more than double annual wage growth
Tasmanian’s looking to buy or rent a home are facing an increasingly uphill battle new Core Logic data has revealed.
Acting Labor Leader Anita Dow said housing price increases were becoming unsustainable for families looking for a home.
“Today’s data shows an incredible increase in the cost of house prices and rent,” Ms Dow said.
“House prices have grown 18.1 per cent higher in Regional Tasmania over the past 12 months and 16.5 per cent higher in Hobart.
“Hobart has also seen big jumps in rent prices, increasing by 7.2 per cent for houses and 7.1 per cent for units, numbers that are more than double annual wage increases.”
Ms Dow said the data showed the challenges now facing Tasmanians looking to purchase their first home.
“The reality is that the cost of more affordable homes is increasing.
“The lower quartile has gone up 9.9 per cent over the past three months, meaning the cheapest 25 per cent of properties now cost 10 per cent more than they did just three months ago.
“With rents increasing and housing prices going up, more and more Tasmanians will face the reality of being without a roof over their head.
“And ABS data revealed today shows that just five public sector houses were approved in April, a staggeringly small number.
“The Government needs to act immediately and build more homes for Tasmanians or it risks seeing the public housing waitlist they have failed to address over the past seven years grow even bigger.”
Anita Dow MP
Acting Labor Leader
Source: Taslabor
