Kunama Real Estate Agents and Property Developers | Hobart Council Votes on Future CBD & Great National News for Homeowners.
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66 Burnett Street North Hobart Proposal

Hobart Council Votes on Future CBD & Great National News for Homeowners.

Concerned Battery Point residents want Hobart City Council to reject the $60 million Lenna of Hobart Hotel expansion plans, saying it is inappropriate for the area. But project leader Dean Coleman said his team had worked for nearly two years with council planners, parks representatives and the community to deliver an extension to the hotel that complemented the different faces of Salamanca and Battery Point. The Mercury


Labor has announced a ten-year plan to build 250,000 new homes across Australia, including 20,000 during its first term in government if it wins the election. The $6.6 billion investment would see 250,000 new homes for low income and working families, key workers such as nurses, police, carers and teachers and women over 55, the fastest emerging group of Australians at risk of homelessness. Urban Developer


The Property Council has called for the Tasmanian Government to intervene in the height limit vote that will go before Hobart City Council tonight. It comes as the Mercury revealed Reserve Bank of Australia research shows building restrictions have about a 40 per cent effect on housing prices. Property Council of Australia Tasmanian executive director Brian Wightman said the proposal to be considered by the council went too far and wasn’t backed up by any detailed analysis. The Mercury


In a dramatic night at Hobart City Council aldermen rejected a 45m cap on CBD building heights. Instead, the council will seek another report into the social, environmental and economic impact any proposed height restrictions would have on the city. In a heated council meeting on Monday night, for more than an hour aldermen debated the planning city committee recommendation to lower heights in the CBD to 45m in zone 1. It means the council-commissioned review by architect Leigh Woolley, which cost ratepayers $80,000, has been shelved. The Mercury


The four Greater Hobart councils have each committed millions of dollars to a massive infrastructure expenditure program as part of the Hobart City Deal. On Monday night, Hobart, Clarence, Glenorchy and Kingborough councils agreed in principle to sign up to the Greater Hobart City Deal. The Mercury


The Australian Prudential Regulation Authority will ease its curbs on interest-only residential mortgage lending, it announced on Wednesday. The supervisory benchmark was put in place as a temporary measure, leading to significant declines in lending to investors and putting downward pressure on boiling house prices and Australia’s record high household debt-to-income ratio. APRA will remove the 30 per cent limit from 1 January 2019, with plans to conduct a review into banks’ lending practices next year. Urban Developer


As Tasmanian visitor numbers continue to steadily climb, more passengers are using Hobart Airport as their gateway to the island state, and even the airport admits things are “squeezy”. It’s struggling to keep up with surge in arrivals. Australia’s southernmost airport has experienced 6 percent year-on-year growth over the past four years, with 2.6 million people making their way through the terminal in the past year. ABC


Charter Hall Direct has announced the acquisition of two 100 percent-leased commercial properties in Hobart by two of its direct funds currently open for investment. In Hobart’s CBD the Charter Hall Direct PFA Fund, which specialises in investing in government tenanted properties, has acquired a cluster of buildings on two adjoining sites for $50.5 million. Investor Daily


Plans for new four-storey residential and visitor accommodation in North Hobart have been re-submitted to council. The Hobart City Council City planning committee deferred the vote on the previous development application for 66 Burnett St on November 13 at the request of the applicant after advice recommended they consult surrounding residents as part of a redesign. The new proposal includes 70 apartments, down from 89 in the original application, with a building height of 14m. The Mercury


Top 10 largest annual increases in residential dwelling values nationally (Urban Developer)

Region State Growth
South East Coast TAS 16.3%
Brighton TAS 14.8%
Hobart – North West TAS 14.3%
Meander Valley – West Tamar TAS 13.8%
North East TAS 13.7%
Gippsland – South West VIC 13.4%
Baw Baw VIC 12.6%
Lachlan Valley NSW 11.8%
Launceston TAS 11.1%
Sorell – Dodges Ferry TAS 10.9%
Weekly auction results

Results for Tasmania for the week 10th December to 16 December 2018

Clearance Rate: 50% · Reported: 6 · Sold: 3 · Not Sold: 3

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