Home Renovations Peak in 2018 For First Time Since Early 2000s

Home renovations have hit a record high showing 2018 as the biggest year for renovation in Australia since the housing boom in the early 2000s.

According to the latest Australian Bureau of Statistics, private investment in alterations and additions shown an increase of $9.89 billion during September, 11% higher from 2017. This makes the September quarter the busiest for home renovations in 14 years.

The Sunday Mail found that a whopping $1.851 billion was put into home renovations, the highest since the last major Australian housing boom in the early 2000s.

Master Builders Australia chief economist Shane Garrett shares: “Times have often been tough for Australia’s home renovations market over the past decade but today’s figures show that the market is now bigger than at any time since mid-2004.”

“Looking further out, we are almost certain to see further gains for home renovations. More detached houses were built in late 1980s Australia than at any time before or since. More and more of these will be begging for major renovations work in the coming years.”

As the records show, there has been an influx of demand for home renovations in the country. This is important for the home and construction industry to keep up with today’s demand and offer improved home and renovation services.

Dymond Homes has over 30 years’ experience in the building industry and over 12 years in the insurance industry reinstating homes to their former glory. They provide interior and exterior home renovations supported by quality materials that mirror the company’s high standards. Dymond Homes’ team of skilled employees and contractors is consistent in their pursuit to delivering quality building and renovation projects and treating each home with respect it deserves.

To learn more, visit the Dymond Homes website at http://www.dymondhomes.com.au/