Renovations the "In" thing

Overview

Published: 19/07/2013

by Renovate Smart

Photos

Apparently residential renovations accounted for around $31billion worth of building industry work last year, according to the HIA (Housing Industry of Australia) National Outlook.  At $31billion that is the highest level of expenditure on renovation in four years and predictions are that this figure will continue to increase over the next two years. In a couple of years time the figure is expected to be more like $35billion expenditure - making it close to a record high according to HIA Chief Economist, Dr Harley Dale.  That’s a mighty lot of renovating!  He said the renovation side of the residential building industry looks in ‘relatively healthy shape”.  That’s for sure!  And this is while residential construction of new homes appears to be waning.  Whilst renovating sure is the ‘in-thing’ right now, it’s still important not to do just ‘any old’ renovation.  Renovations should be sympathetic with the style of the house, preferably of a style that won’t ‘date’ dramatically as fashions change, sensibly not over-capitalized for the value of the house they’re applied to (unless money is no object), and should be carried out to any applicable building or construction or other codes.  Check out more about the HIA report :http://www.bpn.com.au/article/Renovations-soar-while-new-home-builds-dip/528807.aspx