Tasmanian election result to bring steady growth

Tasmanian election result to bring steady growth

Posted on Monday, March 17 2014 at 2:48 PM

The Liberal Party’s victory in Tasmania brings a stable government to the state that will benefit property owners, according to the Real Estate Institute of Tasmania (REIT).

Adrian Kelly, president of the REIT, says confidence
in the state’s real estate will strengthen with the election outcome.

“We’re optimistic about our future coming
into this calendar year and now that we’ve got the election out of the way,
regardless of whether you like the result or not, at least we can just move
forward now with some consistency.

“I think if this government, being a
majority, can provide probably better stability than the previous government
did, that won’t hurt the property industry.”

Kelly says other factors impacting property began
an upturn in the state’s market late last year.

“Our property market started to improve about
six to nine months ago and that’s largely due to people just getting on with it
in Tasmania and low interest rates finally starting to flow through.”

Kelly says the big issue for property in future
is planning, and he believes the new government will be keen to address it.

“We have 29 local councils and each local
council has a different planning scheme, so there’s a fair bit of inconsistency
around the state and that needs to be sorted.

“The previous Labor/Green Government
acknowledged that it needed to be sorted, and the incoming Liberal Government
have acknowledged that it needs to be sorted, but it’s not a quick fix, not by
any stretch of the imagination.”

Regardless of its complexity, Kelly says
action must be taken as soon as possible.

“The incoming government knows that they need
to do something about it, it’s just a matter of doing it and doing it within a
reasonable timeframe.”

Kelly says the REIT will be given opportunity
under the new government to have its say when it comes to property policy.

“We’re not expecting that to be an issue at
all… we’ve already had some meetings pre-election with the incoming Liberal Government
so I think we’ll be able to work quite well with them.”

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