Increased dwelling starts in Tasmania illustrate opportunities
Tasmania posted the highest increase of home starts in Australia, boasting a seasonally adjusted rise of 5.8 per cent in the December quarter, recent figures from the Australian Bureau of Statistics reveal.
This may come as good news to Tasmanians looking to build residential property in the state as the numbers indicate favourable building conditions.
"These figures show the market is recognising there has never been a better time to build or renovate as good builders and tradespeople have capacity to take on new work," said Housing Industry Association executive director Stuart Clues.
The island state supports a population of roughly 500,000, with much of the population living in the major centres of Launceston and Hobart.
It has a varied economy with diverse contributors including processed metals, tourism, manufactured goods, wood, papers and ores.
Those considering relocation to the island state may be encouraged by opportunities for lucrative residential and commercial property investment in the region.
Mr Clues said: "With the share market and super performing poorly, property still represents a great investment particularly in Tasmania where the rental vacancies are so tight."