The University of Hobart & The Unaffordable Cost of Living

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After years of speculation and months of consultation, the University of Tasmania (UTAS) has decided to "develop a city-centric campus" in Hobart's CBD. In a statement this afternoon, UTAS said the move would cost $600 million over the next 10 to 15 years. ABC

For the first time, it is now more expensive to rent a house in Hobart than in Melbourne. In just two years Hobart has gone from the most affordable rental market to now being more expensive than Adelaide, Perth, Brisbane and Melbourne. The Domain Rental Report for the March quarter shows the median weekly rent for a house in Tasmania’s capital city is $450, compared to Melbourne’s $440. Domain

Buyers have fallen in love with the city of Hobart, with the Tasmanian capital ranking among the world’s top 20 places for property growth. Hobart finished in 17th spot recording 9.6 per cent growth in the past 12 months In stark contrast, Sydney was one of the poorest performers with prices falling 7.8 per cent in the past year, according to the latest Global Residential Cities Index. News

Legislation that would force the four Greater Hobart Councils to work together on cross-boundary decisions has been tabled in parliament. Hobart is the only capital in the nation without a “city act”. This Greater Hobart Act will increase the level of strategic collaboration between local and State Government and set rules for planning, development and co-ordination between Hobart, Clarence, Glenorchy and Kingborough. Mercury

The slowdown in Australia’s property market has seen housing values decline, and with the forecast of further falls to come, the ratio of assets to disposable incomes is likely to fall in the coming quarters. Because of a reduction in the ratio of assets to disposable income, the ratio of debt to assets is climbing. Total household debt is now 20.4 per cent of household assets, the highest it has been since March 2016. While total housing debt is 28.3 per cent of total housing assets, the highest it has been since September 2014. Urban Developer

The State Government has called for tenders for the detailed design and construction of the new four-lane Hobart Airport interchange to replace the existing roundabout. The works include removal of the existing roundabout and construction of a four-lane overpass or flyover. Construction is expected to start in early 2020 and be completed by mid-2022. The federal and state governments have committed $30 million to the project. Mercury 

Hobart Airport will today unveil a $100 million expansion plan which will double the size of the current terminal. The redevelopment will include customs and immigration facilities for handling direct international flights. The first stage to the plan to be completed by December 2020, will expand the departures lounge and facilities, improved airline lounges and improved passenger screening facilities. Mercury

Four to five-storey apartment blocks would be allowed and encouraged in urban Hobart under new planning rules expected to be developed over the next 12 months. Housing Minister Roger Jaensch said the rules would allow for apartment-style developments that would offer the benefits of inner-city living to a greater number of Tasmanians. Herald Sun