Top City Deals and Low City Heights

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Prime Minister Scott Morrison arrived in Hobart on Sunday to unveil the $1.43 billion, 10-year Hobart City Deal. The Mercury According to Infrastructure Magazine, The Hobart City Deal includes:

  • An international gateway — $82.3 million for border services including immigration, customs and biosecurity at Hobart International Airport

  • A hub for jobs — Utilising Macquarie Point’s full potential as a major scientific, tourism and cultural hub, with the Federal Government providing more than $450 million for the upgrade of Australia’s Antarctic research station network and supporting infrastructure as part of our ongoing efforts to back Hobart as the gateway to Antarctica

  • Busting congestion — An extra $25 million from the Federal Government and $105.5 million from the Tasmanian Government for projects including the Kingston bus interchange, easing traffic congestion in the Kingston area and activating the northern suburbs transit corridor, on top of the $576 million replacement of the Bridgewater Bridge, funding for a fifth lane on the Southern Outlet and setting up a Derwent River ferry service

  • Affordable housing — Boosting the supply of community housing across the city with a $30 million investment from the Morrison Government for projects in partnership with community housing providers, delivering over 100 new dwellings

  • Prime Minister Scott Morrison said the ten-year $1.43 billion Hobart City Deal would open the city up by tackling congestion bottlenecks, boosting tourism and making the airport a true international gateway, driving scientific investment and creating an extra 720 jobs.

 A Hobart City Council planning committee has rejected undertaking a $50,000 building heights report analysing the social, environmental and economic impact any proposed building height restrictions would have on the city. Instead, at the next full council meeting, councillors and aldermen will debate the original council officer recommendation based on urban design consultant Leigh Woolley’s report, which set a cap of 60m in zone 1 of the CBD. The Mercury Property Council chief slams Hobart City Council’s building heights decision as farcical. Herald Sun

 In over 60 per cent of Greater Hobart suburbs, buying a home is more affordable than renting. The latest data from has revealed 34 suburbs where buying was the more affordable choice compared with 21 suburbs where it will cost people less per month to rent. The figures were based on 80 percent of each suburb’s median house price (borrowed) and an interest rate of 3.69 per cent over a 30-year term. News

 Bearishness toward house prices has settled in, with 93 percent of economists in a UBS survey, maintaining negative sentiment on the outlook for house prices over the next 12 months. Only 3 per cent responded as “bullish”. The average weighted response of investors implies home prices are expected to fall a further 7 per cent in the coming year. Urban Developer

 Falling property prices, credit availability and uncertainty ahead of the federal election are factors shaping Australia’s property industry this year. Westpac chief economist Bill Evans on Thursday said he expects falling house prices to drag the economy, that could ultimately force the Reserve Bank to make two cuts this year. The Urban Developer