The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
TUD CELEBRATES QLD STATE OF ORIGIN VICTORY 2-FOR-1 URBANITY TICKET DEAL - BUY TODAY
CELEBRATING QLD STATE OF ORIGIN VICTORY 2-FOR-1 URBANITY TICKET DEAL
GET DISCOUNTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterSun 30 Aug 15

Interest Rates Help Lift Renovations Higher

1




The Winter 2015 edition of Renovations Roundup has been released today by the Housing Industry Association.

The detailed report is the most comprehensive review of the state of the Australian renovations market, including coverage across each of the eight states and territories. Renovations Roundup includes results of the exclusive HIA Renovations Survey which was conducted during August 2015.

“Over the past year, extremely low interest rates have helped drag the renovations market back onto a path of growth. The volume of home renovations is estimated to have increased by 1.2 per cent during 2014,” Shane Garrett added.

“Demand for home renovations is extremely sensitive to consumer sentiment, and the post-GFC downturn provides sobering evidence of this.”

“The 2011-13 renovations downturn was the third worst on record, involving a reduction in activity of 15.6 per cent,” explained HIA Senior Economist Shane Garrett.

“However, more recent strong dwelling price growth has lifted home equity in the Sydney and Melbourne markets, the local renovations industry reaping the benefits.”

“Other markets, however, continue to suffer from the combination of subdued dwelling prices and low household sentiment. The burden of red tape and regulation is also frustrating growth in the market, with nearly one half of renovators identifying taxation and government charges as a serious source of cost pressure,” Shane Garrett pointed out.

The Winter 2015 edition of Renovations Roundup projects that renovations activity will increase by 4.5 per cent this year with a slight 0.4 per cent increase forecast for 2016. During 2017, it is forecast that activity will grow by 1.8 per cent followed by a 3.4 per cent increase in 2018, bringing the total volume of renovations activity to $31.23 billion.





ResidentialAustraliaConstructionConstructionSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
View All >
Bridgewater Gagebrook Brighton Derwent River from Granton
Planning

Scheme to Unlock 362 Lots in Tasmania Revealed

Leon Della Bosca
Maroochydore Habitat The Millwell render hero
Residential

Midrise Project Breaks Ground as Sunshine Coast Ramps Up

Phil Bartsch
Development

Brisbane Needs Big, Hairy, Audacious Goals and a Plan: Peter Edwards

Taryn Paris
The architect of the 2032 Games is running the rule over a new growth corridor in the centre of Brisbane...
LATEST
Bridgewater Gagebrook Brighton Derwent River from Granton
Planning

Scheme to Unlock 362 Lots in Tasmania Revealed

Leon Della Bosca
3 Min
Maroochydore Habitat The Millwell render hero
Residential

Midrise Project Breaks Ground as Sunshine Coast Ramps Up

Phil Bartsch
3 Min
Development

Brisbane Needs Big, Hairy, Audacious Goals and a Plan: Peter Edwards

Taryn Paris
3 Min
Genton Architects' rendering of the East Village Sunbury project by Birchmore and IDA on Lancefield Road in Sunbury, Victoria.
Retail

Retail Centre Moves Ahead as Sunbury Prepares for Growth

Marisa Wikramanayake
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/interest-rates-help-lift-renovations-higher