{"id":18621,"date":"2018-12-19T15:14:17","date_gmt":"2018-12-19T04:14:17","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/goldenplains\/?p=18621"},"modified":"2018-12-20T06:27:23","modified_gmt":"2018-12-19T19:27:23","slug":"home-renovations-hit-fourteen-year-high","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/goldenplains\/real-estate\/home-renovations-hit-fourteen-year-high\/","title":{"rendered":"Home renovations hit fourteen year high"},"content":{"rendered":"

AUSTRALIA\u2019s home\u00a0<\/strong>renovations sector enjoyed\u00a0<\/strong>its busiest quarter in 14 years\u00a0<\/strong>during the three months to\u00a0<\/strong>September 2018 according to\u00a0<\/strong>Master Builders Australia.<\/strong><\/p>\n

MBA Chief Economist Shane Garrett said that while GDP grew by a fairly disappointing 0.3 per cent during the September 2018 quarter, home renovations activity provided more cheer.<\/p>\n

\u201cThe volume of renovations work rose by 4.5 per cent during the quarter alone and was 11.0 per cent higher than a year ago,\u201d Mr Garrett said.<\/p>\n

\u201cTimes have often been tough for Australia\u2019s home renovations market over the past decade but today\u2019s figures show that the market is now bigger than at any time since mid-2004.<\/p>\n

\u201cWhile new home building scaled new records over recent years, the performance of renovations activity has been quite puzzling and had failed to replicate this strong performance.<\/p>\n

\u201cThe stronger position of the renovations market during the September 2018 quarter is linked to the fact that interest rates are very low and remarkably stable at this time.<\/p>\n

\u201cThe tightening of credit conditions have prevented many families from being able to move house over the past year.<\/p>\n

\u201cIt seems that some of those have decided to renovate their existing home instead.<\/p>\n

\u201cAustralia\u2019s home renovations industry may be an unintended beneficiary of the tougher lending policies.<\/p>\n

\u201cLooking further out, we are almost certain to see further gains for home renovations. More detached houses were built in late 1980s Australia than at any time before or since. More and more of these will be begging for major renovations work in the coming years,\u201d Mr Garrett concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"

AUSTRALIA\u2019s home\u00a0renovations sector enjoyed\u00a0its busiest quarter in 14 years\u00a0during the three months to\u00a0September 2018 according to\u00a0Master Builders Australia. MBA Chief Economist Shane Garrett said that while GDP grew by a fairly disappointing 0.3 per cent during the September 2018 quarter, home renovations activity provided more cheer. \u201cThe volume of renovations work rose by 4.5 per […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":29,"featured_media":18622,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[29],"tags":[],"post_folder":[],"class_list":["post-18621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"\nHome renovations hit fourteen year high - Golden Plains Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/goldenplains\/real-estate\/home-renovations-hit-fourteen-year-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home renovations hit fourteen year high - Golden Plains Times\" \/>\n<meta property=\"og:description\" content=\"AUSTRALIA\u2019s home\u00a0renovations sector enjoyed\u00a0its busiest quarter in 14 years\u00a0during the three months to\u00a0September 2018 according to\u00a0Master Builders Australia. 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