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Building approvals slump to six-year low

03 July 2024

Today’s building approvals data from the ABS highlight once yet the consequences of the Liberals’ failure to deliver their promises.

 

Ten years ago Jeremy Rockliff and the Liberals promised to deliver a single statewide planning scheme that would make approvals “fairer, faster, cheaper, simpler.”

 

They haven’t delivered and now building approvals have slumped to a six-year low. In fact, approvals have remained below 200 every month this year, have been trending the wrong way for the last two years, and are even below the level that was being achieved 40 years ago.

 

This is more bad news for the Tasmanian economy.

 

Tasmania is in the midst of a housing crisis, with young people unable to afford an affordable rental or get a foot in the door of home ownership. They’re now leaving Tasmania in record numbers last seen in the 1990s. The building industry appears to be entering a downturn.

 

Speeding up planning approvals would get more homes built sooner and would help create safe, secure, well-paying jobs in construction. The Liberal-Lambie Coalition needs to get on with the job.

 

Monthly number of dwelling units approved

 

Josh Willie MP
Shadow Treasurer

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Authorised by J. Moore, Australian Labor Party (Tasmanian Branch), Hobart 7000