Renovations In Glendenning Growing In Popularity

Renovations In Glendenning Growing In Popularity

Home renovation activity in 2016 is $31.4 billion – the highest since 2010, according to the Housing Industry Association’s Renovations Roundup report.

Factors driving the trend include a slowing pace of new homes being built, low interest rates and healthy labour market conditions in the larger cities.

High property prices in Sydney and Melbourne are also driving home-owners to renovate rather than upsize, while renovation projects on older homes are becoming a popular pastime for new home-owners. With the growth in property prices around Glendenning, Plumpton, Oakhurst, Dean Park and Hassall Grove, renovations are the go-to option for some homeowners.

The HIA has forecast the volume of renovation activity will grow from $31.38 billion per year to $33.37 billion by 2019.

This report is courtesy of Hotspotting.