 Renovation trend impresses builders
Reports indicate an upturn in the amount of renovations to properties, and the building industry is obviously pleased.
Builders say that homeowners are taking advantage of low interest rates to make improvements to their homes, with either an extra bathroom, an extention or a new kitchen.
Renovating an existing home is a cheaper alternative to moving, and can increase the value of a property considerably.
"There is definitely an opening of the purses within the last six weeks or so," said John Haskell, owner of Simply Kitchens and Bathrooms in Mosman. "No guarantee it will continue, but there is a recovery."
The Housing Industry Association's chief economist, Harley Dale, is pleased with the modest increase in renovations loans and renovation jobs being booked.
Many building firms are reporting an increase in business in the June quarter, however, Mr Dale is cautious and wonders how unemployment will affect the industry.
Midon Constructions in Miranda, reports renovations are popular rather than new homes. Owner Michael Eagleton also said business has improved over the past two months after a tough six months.
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