Renovation Boom Set to Continue says ABS
Yes, it’s not just the Universal Home Group talking up the current renovation boom – the number of Australians who are investing in renovation works is visible in the data and set to increase, according to data from the Australian Bureau of Statistics. Between Dec 2020, Jan 2021 and February 2021, lending for renovations have rose to its highest level since 2009. The value of loans for home alterations and additions over the period grew by a huge 47.6%. No wonder home renovation magazines like Home Design, Grand Designs Australia, Kitchens & Bathrooms Quarterly, Outdoor Design and Backyard & Outdoor Living are experiencing a growth in audience.
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