Battle Mt. Wellington & UTAS Flashes its Wallet!

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The Tasmanian Government has intervened to ensure a cable car project on kunanyi/Mt Wellington can progress. The Hobart City Council last year voted to block the Mount Wellington Cableway Company (MWCC) from accessing council-owned land near McRobies Gully as part if its development proposal. State Growth Minister Peter Gutwein has granted an authority to the company to undertake the investigations required before it can lodge a development application. ABC

The University of Tasmania has paid almost three times the estimated value of the former Forestry Tasmania building on Melville Street as part of its expanding Hobart CBD property portfolio. The purchase — alongside recent city accommodation acquisitions of the Fountainside Hotel, MidCity Hotel and land in Melville Street — has stakeholders worried that the Hobart City Council is losing out on significant rates revenue. ABC

Australia’s economy didn’t fare so badly in 2018, but high household debt and falling house prices pose significant risks to the nation’s economy in 2019, according to CEDA’s annual political and economic overview. “Arguably in almost 40 years of producing the CEDA EPO report, there has never been a year with so many question marks about how the year will unfold,” CEDA chief executive Melinda Cilento said. Urban Developer

With 5.8 per cent growth in 2018, Hobart rents increased more than any capital city, a report has revealed. Historically Hobart has been the most affordable capital city rental market. However, strong rises in rents over recent years have pushed rental costs well above those in Adelaide and Perth. And CoreLogic’s December Quarterly Rental Review shows Hobart rents are now marginally higher than those in Brisbane. News

Hobart City Council will look into funding a ferry service from the city to Bellerive. On the back of the popularity of a ferry service the council ran when traffic to the Tasman Bridge was hindered by the installation of the Bridge of Remembrance, Hobart Council is now undertaking a report to investigate the possibility of further Saturday crossings between Hobart and Bellerive during the summer months. The Mercury

Despite significant falls in residential property and share markets, Australia’s financial inequality gap has narrowed for the first time in seven years, as households start to feel better about finances. Income gains, easing living costs, growing savings and reduced overspending were key drivers in households’ rising financial comfort, finds the ME Bank’s Household Financial Comfort Report. Urban Developer 

After months of talking, the State Government has failed to reach a deal with the operator of the Hobart Private Hospital to sign a new lease. So it has been put out to tender. But is anyone sufficiently interested — or sufficiently unwise — to take it on? Ministers are anxious to keep it in private hands and to earn money from it. The Mercury