Excuse us for getting a bit excited – but it is a day that we thought may never happen, Many have tried and failed across the journey, but after years of campaigning and lobbying, Tasmania, the little footy state that could, has finally been granted a license for an AFL Team. This is a major development for our island state, and one that is likely to have significant implications on many facets of Tassie life… not to mention for those involved in the local housing market.
Gil McLachlan stood on North Hobart Oval and announced that League was set to truly go National with the new team to be added to the league in 2028. Despite Naysayers, the news has been mostly met with widespread excitement and enthusiasm, not just among sports fans, but also among property investors and developers. The arrival of an AFL team is expected to have a shot in the arm of the state’s economy, as well as on the local property market.
The arrival of an AFL team in Tasmania is likely to be a major boost to both Hobart City and its greater suburbs, as well as the remainder of the state, as it will help to drive economic growth and support the development of new infrastructure and amenities in the region. It is also likely to be seen as a key part of the broader vision for the Hobart region, which aims to create a more livable, vibrant, and sustainable city that can attract new businesses, residents, and visitors.
Not unlike the Tourism boost the state saw with the introduction of MONA, with a new team comes the opportunity for fans of the game to visit our island state of Tasmania to watch their team play, generating more visitors and dollars to the state. This increase in tourism has the potential to boost the Tasmanian economy and support local businesses. The influx of visitors is likely to have a positive impact on the state’s housing market, with an increase in demand for short-term rental properties and hotels, which could benefit investors looking to purchase property in Tasmania.
In terms of the housing market, the new AFL team is likely to be a driving force in adding demand for housing in and around the team’s home ground – the newly announced Macquire Point Stadium that was one of the final hurdles in getting the team licence over the line. Prime Minister Anthony Albanese formally unveiled $240 million in federal funding for the new Hobart stadium. “This is a revitalisation project that will transform this city,” Albanese said during the announcement. “[It] will produce ongoing jobs in tourism, in hospitality, as well as lifting up the sights of young Tasmanians who aspire to play for Tasmania in the Australian Football League.”
By injecting the money into the state via the development of the Stadium and the surrounding area, the AFL team is likely to impact the local housing market through the development of new housing projects. Property developers are likely to seize on the opportunity presented by the arrival of the team to build new housing developments in and around the stadium.
These developments could range from new apartment complexes and townhouses to single-family homes. They could also include a range of amenities and features designed to appeal to sports fans and other potential buyers or renters, such as fitness centers, sports bars, and outdoor recreational areas.
If you are a current homeowner in Tasmania you can be reassured that the addition of an AFL team to the state is likely to have a positive impact on their own property values. The increase in demand for housing and short-term rentals that the arrival of an AFL team is expected to bring could lead to higher prices and rental yields for your current property. And as we mentioned with the construction of a new stadium and other associated infrastructure there will be require significant investment in the local area, which could help to stimulate growth and development, further increasing the value of properties in the region.
Furthermore, the arrival of an AFL team in Tasmania has the potential to create new jobs and drive economic growth, which can have a positive impact on the local housing market. As more people are attracted to the state and new businesses are established, demand for housing and property is likely to increase, creating new opportunities for homeowners to sell or rent their properties at a premium.
Overall, the way we see it, the addition of an AFL team to Tasmania is exciting all round and has the potential to bring significant benefits to the local community, including a boost to the economy, an increase in tourism, and a potential rise in property values. Current homeowners can take comfort in the knowledge that they are likely to benefit from the increase in demand for housing and the associated growth and development that the arrival of the team is expected to bring.
