Home renovations slow in 2015


Home renovations slow in 2015

Posted on Friday, April 24 2015 at 4:46 PM

The Housing Industry Association (HIA) has released its Autumn 2015 Renovations Roundup report concluding that the home renovation industry has softened this year.

Garrett, a senior economist at the HIA, says new home building has hit record
levels but renovations will continue to struggle.

represented a continuation of the slump which has blighted the sector since

says the volume of renovations activity has dropped by 15 per cent over the
past three years.

performance of South Australia typified the national trend.

the 2012/13 period, renovations activity in SA declined from $2.1 billion to
$1.78 billion – a contraction of 15.1 per cent.”

says home renovations are an important component of the construction sector.

at $29.66 billion during 2014, the renovations sector accounts for over one
third of all residential construction activity and about two per cent of GDP.”

report predicts a further decline of 2.8 per cent in renovations activity
during 2015, although uplift is expected between 2015 and
2018 because of of low interest rates and the gradual recovery of economic


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