The City of Launceston has approved 647 development applications valued at a total $238 million for the last financial year, down from the previous year’s record $383 million total value.

In total 647 applications were approved, of which 391 were for residential developments with a combined value of $107 million.

While the numbers are down on last year’s record 771 approvals worth $383m — an unprecedented result driven by a range of COVID-related local, State and Federal Government stimulus packages — they represent an increase of $23 million from  pre-pandemic 2019-20 figures.

Over the past five years, the City of Launceston has approved $1.2 billion worth of development across more than 3400 projects in the Launceston municipality.

City of Launceston Mayor, Albert van Zetten, said the planning approval statistics showed investment confidence in the City was continuing to trend upwards.

“The City of Launceston is a strong supporter of appropriate job creating development in Launceston and we’ve continued to progress that through the planning approvals process over the most recent term,” Mayor van Zetten said.

“Launceston continues to attract significant commercial development proposals as well as a wide range of residential projects, with more than half of the approved planning applications in the past financial year relating to residential projects.

“The Council works proactively with developers wherever possible on behalf of our community to deliver positive, sustainable and appropriate development outcomes for Launceston.”

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