The Tasmanian Liberal Government has welcomed a Federal Government announcement that it will increase the price caps of the successful Home Guarantee Scheme, helping hundreds of Tasmanians into the property market. Source: Timberbiz
State Housing Minister Guy Barnett said the Prime Minister Scott Morrison shared the Tasmanian Government’s commitment to help more Tasmanians and Tasmanian families into homes and that the announcement would do just that.
There will be a $100,000 increase to the price threshold in Hobart in the 2022-23 financial year, taking the cap from $500,000 to $600,000 and a $50,000 increase on the price cap for the rest of the state – increasing from $400,000 to $450,000.
“This will complement the Tasmanian Liberal Government’s unprecedented action to assist Tasmanians with a massive 10-year housing package, in excess of $1.5 billion, to build on our existing reforms and take further action to provide affordable housing,” Mr Barnett said.
“We know that the only way to address rising house and rental prices is to increase supply and that is exactly what we are doing.”
He said the initiative would build on the Stamp Duty and First Home-Owner grants and concessions announced by the Tasmanian Government and measures to further accelerate land supply, by extending our Headworks Holiday program.
“We are also extending the thresholds and eligibility for our successful Home Share program, the ‘Housing Market Entry program’ allowing more Tasmanians who meet our income and assets tests to access this much more generous program,” Mr Barnett said.
