Renovation spend booming but capital value varies
With Australians spending $1 billion per year on property renovations the risk of overcapitalising increases, as some renovations generate more long-term value than others.
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Australians are spending around 30 per cent more on home renovations than they were before the Covid pandemic sent everyone scurrying to the local hardware store.
The latest national homebuilding approval figures show that Australians spent just over $3 billion on home renovations during the June 2022 quarter.
This growing renovation trend is underlined by the fact that Australians were spending on average around $700 million per month in 2019 …
