Global Power | Local Knowledge | Uniquely Personal
All Articles News FAQs Videos
中文

Renovations to break records this year

Many Australians are turning to rennovation in order to get the house of their dreams as a lack of quality supply means improvement is becoming more popular.

The current lack of new housing has provided a significant boost to renovation activity, according to the June 2007 quarter HIA National Outlook.

The report, released this week, shows that homeowners are choosing to stay put and add floor area to existing homes rather than face the prohibitively high transaction costs associated with buying land and building a new house.

"Total investment in renovations in 2006/07 is expected to have hit a new record of $28.6 billion and growth of over 3 per cent is forecast for 2007/08", said HIA Chief Economist, Harley Dale.

- improvement, rennovation, building, property

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact info@smats.net.

中文

Subscribe Now