Tradies see renovation activity grow
Tradies across the country are seeing an upswing in the number of households looking to conduct renovations on their property.
Figures from the Australian Bureau of Statistics (ABS) have revealed that activity in the housing market is slowing, whilst renovation rates are right up.
Harley Dale, chief economist of the Housing Industry Association says: "This final update for June quarter activity confirms a tale of two halves, with new home building activity continuing to deteriorate as major renovations activity climbs higher."
According to ABS figures, major alterations and additions increased by 2.6 per cent in the quarter.
Dale says: "Renovations activity, both in terms of major jobs which we received an update on today (October 19), and smaller jobs valued at less than $10,000, is the source of growth in the housing industry in 2011."
Many homeowners are simply more comfortable financially to renovate than to move into a new property.
New home building has dropped by a total of 34.5 per cent across Australia since June 2010.
The news is likely to be welcomed by tradies specialising in garden landscaping, decks and bathroom renovations, as more and more families seek to add new features and increase functionality in their homes.