Renovations Market Recovering, Slowly

More homeowners are considering renovating over upgrading as the renovations market slowly recovers.

Renovations activity is slowly getting its momentum back after slumping to a 10-year low in 2013 following the global financial crisis, the Housing Industry Association says.

Strong property prices have boosted demand for renovations in markets like NSW, where HIA senior economist Shane Garrett says many Sydney households that had been planning to move house find it is now more affordable to undertake a major renovation instead.

Riki Tawhara, Hills District and western Sydney manager for buyer’s agents Cohen Handler, is tipping an increase in renovators. Read the full article here