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Renovation figures expected to grow in 2015

By Louise Morrin

For anyone interested in renovating their property in Carlton, there's good news on the horizon; renovation figures are expected to increase heading into 2015. The latest Housing Industry Association (HIA) Renovations Roundup report has revealed that the renovation rate has been recovering since enduring a downturn in the wake of the global financial crisis. 

HIA senior economist Shane Garrett said that while people were reserved about taking on big expenses like renovation, as the economy and overarching property market returned to strength over the last year, this attitude has started to change. 

"Latest indications suggest that the market is starting to turn for the better, with renovators modestly optimistic for the year ahead. Activity is benefiting from a prolonged period of very low interest rates and growth in home prices over the past eighteen months," said Mr Garrett in an 18 December statement. 

These projections have found that the sector is anticipated to grow 10 per cent by 2018, bringing the renovation market value up to a huge $31.25 billion. Now could be a great time to consider taking your house's future into your own hands and turning it into the home you've always wanted. 

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