New home shortfall costs Tasmania the equivalent of 2,800 nurses for two years
Tasmania's failure to build enough homes has cost the state budget an estimated $642 million in stamp duty and GST over the past two years. That is enough to pay the salaries of 2,807 registered nurses for two years.
$642 million in lost stamp duty and GST over two years due to Tasmania's home building shortfall
How much is Tasmania's new home shortfall costing the state, and what does it mean for builders?
Builders, carpenters and related trades in Tasmania are affected by the housing shortfall, which points to unmet demand for new construction work. It may also add pressure for policy changes that speed up approvals and building activity.
Key takeaways
- Tasmania's shortage of new homes has cost the state an estimated $642 million in stamp duty and GST.
- The loss covers the past two years.
- The same money would pay 2,807 registered nurses for two years.
- The shortfall in new homes has a direct impact on state budget revenue.
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