Major renovations recovered in the March quarter, pegging back all of the ground lost in a weaker end to 2005, according to a recent survey of projects carried out by licensed builders and contractors.
HIA's quarterly Renovations Monitor shows that major renovation activity (such as ground and second storey extensions, kitchens, bathrooms, garages, roofing and cladding and external improvements) increased by 13 per cent in the March 2006 quarter to $782 million.
Major renovation expenditure increased almost everywhere in the March quarter, with the strongest rises occurring in Western Australia (up 23 per cent), South Australia (16.3 per cent) and Queensland, which saw a rise of 15 per cent. Expenditure rose 13 per cent in Victoria, 12.9 per cent in New South Wales, 10.7 per cent in the Australian Capital Territory, and 7.4 per cent in the Hunter region. Tasmania was the only state to record a fall, down 20.3 per cent.
The average level of spending on major renovations increased for all categories, with the exception of repairs and maintenance.
Nationally, a total of 8,458 households undertook major home renovations over the three months to March 2006, at an average value of $92,410 for each job. The most popular major renovation over the three months was a ground floor extension valued at $118,232 and around 67 square metres in size.
