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House Upgrades Set to Boost Home Renovation Industry

Photo source: Pixabay.com

We can expect to see the home renovations sector expand by almost $3billion over the next 3 years according to the latest forecast from the Housing Industry Association.

Over the next decade homes that were built in the 1980s will be updated and renovated, giving rise to a home renovation boom.

The HIA expects the value of the renovations sector to increase from an estimated $32,228 billion in 2016/17 to $35,120 billion in 2019/20.

The HIA said their analysis shows a strong correlation between the volume of renovations work and the age of the housing stock, this is welcomed news for contractors and those involved in home renovation work like plumbers, tilers and other tradies.

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