Housing density in greater Hobart will double and commercial precincts are projected to grow, according to the latest precinct plans released by local councils.
The Greater Glenorchy plan is the first of four metropolitan council areas to release a 2040 vision, encompassing Glenorchy, Moonah and Claremont, north of Hobart CBD.
In the past year, house prices in Hobart increased 10.3 per cent to a median of $535,000, while units increased 8.3 per cent to $400,000, according to the REA insights index for February. The strain on rental affordability has also increased markedly since 2011. In November, Hobart was crowned the least affordable city in Australia.
Greater Glenorchy accounts for 22.3 per cent of the greater Hobart population. Currently there are 8-14 dwellings per hectare with council aiming to increase this to more than 25 dwellings per hectare along the rail transit corridor. There are additional opportunities in Moonah, Claremont and Glenorchy CBD.
Glenorchy mayor Kristie Johnston said they will use these plans to attract developers to the region, home to the renowned Museum of Old and New Art (MONA).
“Glenorchy has a bright future ahead. Developers small and large are investing in that future,” Johnston said.
In the next 10 years around $1.8 billion will be spent on developing the region including the $500 million showground and $65 million Derwent Entertainment Centre this year. This will be followed by the $200 million Windermere Bay residential development, $576 million Bridgewater Bridge, $200 million Wilkinsons Point development and various Hobart city deal transit corridor activation projects.
Glenorchy senior advisor for precinct design Jennifer Lawley said the plan effectively shows the region is rail ready and set to grow.
“This plan sets out a clear direction for Greater Glenorchy in the context of the activation of the northern suburbs rail corridor,” Lawley said.
“This will ensure our inner city areas remain vibrant, affordable and sustainable by containing growth within the urban growth boundary.”
Lawley said they were seeing strong residential demand close to the city particularly around Moonah.
“Moonah is predicted to become a popular residential area benefiting from its proximity to both Glenorchy and Hobart CBDs, accessibility to a range of recreational opportunities, its arts and cultural scene as well as a distinctive and established character,” Lawley said.
“There is also strong demand for medium-density dwellings along the length of the rail corridor driven by infill developments due to the ageing population and decreasing average household size.”