Affordable land cap

Under the program guidelines, an applicant will only be eligible for their second payment if they can demonstrate that rebate lots have been brought to market and sold for an amount under that of an affordable land cap and within 18 months from the signing of an agreement.

Applicants must provide this evidence within the prescribed timeframe and can only receive the second payment in a single instalment.

What is the affordable land cap for my LGA?

All Tasmanian Local Government Areas (LGA) have been classified into one of four groups:

• Greater Hobart Area
• Rural
• Urban; and
• Urban Fringe.

These groups have been created by analysing average median land prices, and other characteristics such as location, and the scope and scale of residential developments commonly delivered in these areas.

State Growth has taken care to classify each LGA to the closest match for the available price data and has considered other characteristics to ensure that each classification is reasonable and achieves the aims of the program.

As the program is designed to support affordable land, some new developments, such as urban infill or other premium locations, will be less likely to achieve the land cap as a result.

How is the affordable land cap applied?

When submitting an application, the affordable land cap will be automatically input. This amount will be determined at the time of application and calculated based upon the region in which the lots are located.

How much is the affordable land cap?

The following table details each LGA, its classification and calculated affordable land cap.

NOTE - the inputs used to calculate the affordable land cap are subject to change by State Growth as new data is released.