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Why Hobart's development market is at risk

CITIES & INFRASTRUCTURE • November 1, 2019

New analysis commissioned by the Property Council shows that height limits will be a handbrake on development in Hobart.

The analysis was conducted by respected consultants SGS Economics and Planning. It modelled the potential return on investment for hypothetical developments in three locations in Hobart. Each location was assessed to see what the return on investment would be for commercial, hotel and residential developments at each site.

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Source: Leigh Woolley Architect (2018)
Building Height Standards Review Project report, prepared for Hobart City Council

 

In every scenario considered, reducing building heights would effectively stop all commercial, residential and hotel developments at the three sites.

This modelling shows that if building heights are reduced, significant development at these three sites may not be possible. The broader implication is that other sites in Hobart may be affected in similar ways, which could act as a handbrake on future development opportunities.

You can view a copy of the report through our Research & Data page here.

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