The Rockliff Liberal Government's housing plan is relieving pressures on the rental market as more housing stock comes online.
CoreLogic data released today shows that Hobart has the highest capital city rental vacancy rate in the nation at 2.5 per cent.
This is a sizeable increase in rental vacancies from 12 months ago when the vacancy rate was at 1.5 per cent.
Rental prices are also falling with Hobart the only state capital seeing a drop in the cost of renting, with prices down 1.7 per cent over the past 12 months and 2.7 per cent over the past quarter.
Minister for Housing, Nic Street, said this shows the Rockliff Government's nation-leading housing strategy, led by the establishment of Homes Tasmania, is working.
"Increasing housing supply is the best way to ease rental pressures, which is why we've developed the most ambitious housing plan in Tasmania's history for 10,000 more social and affordable homes by 2032,'' Minister Street said.
"Our plan has received strong endorsement from the Albanese Federal Labor Government and industry stakeholders – and even the Tasmanian Labor Opposition endorses it.
"Rising vacancy rates are a direct result of adding more supply and will continue to lead to the lower rents we want to see for Tasmanian families.
"These figures are encouraging and we will continue working with local government, the private sector, and our not-for-profit partners to ease the pressures on the Tasmanian rental market by delivering the houses our changing population needs."
"All Tasmanians deserve safe and secure accommodation and that is what our long-term plan is providing," Minister Street said.
