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Spending on renovations reaches a four year high

December 10, 2020 Leave a Comment

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The value of residential alterations and additions has risen to the highest level in more than four years, according to the Australian Bureau of Statistics (ABS).

The ABS Building Approvals for August found that the value of alterations and additions to residential buildings was strong in August, up seven percent to $784 million, to be the highest level recorded since April 2016.

The stellar result is likely partly due to the HomeBuilder scheme, but also to an increase in the number of people undertaking renovations during the lockdown, according to a NSW renovation expert.

The Happy Renovator author, Werine Erasmus, says many Australians are choosing to use the downtime to start or finish renovation projects on their homes or investment properties.

โ€œThe problem with many renovators who attempt to complete projects in their โ€˜spare timeโ€™ is that they often donโ€™t have any time to spare!โ€ Werine says. โ€œHowever, the lockdown created the ideal conditions for many people to restart or finish their renovation projects.โ€

Werine believes renovations will continue to grow in popularity in the months ahead as more people work from home or perhaps move to part-time employment.

However, renovating property is something that can be a steep, and expensive, learning curve if people donโ€™t understand all of the necessary ins and outs, she says.

โ€œWhile I advocate a part-time work and part-time renovation strategy, itโ€™s vital that you donโ€™t attempt a renovation or upgrade without educating yourself about whatโ€™s really involved,โ€ Werine says.

โ€œThe reason why we see so many half-finished renovation projects come up for sale is that people spend too much and run out of money, or they make costly mistakes that they canโ€™t afford to fix.”

โ€œRenovation projects are nothing like what you see on reality television, but by educating yourself on the process, there is no reason why anyone canโ€™t complete a renovation that achieves their goals and, most importantly, makes them happy.”

For more on home renovation strategies

Almost half of Aussie homeowners renovated last year, survey shows
Median spend for home renovation projects stabilised at $20,000 in 2019, according to the annual Houzz & Home Australia survey of more than 4,500 Australian respondents. At the higher end…
10 top tips for managing your reno budget
10 top tips for managing your reno budget
Wouldn’t it be nice if the word ‘budget’ didn’t have to co-exist with the word ‘renovation’? Unfortunately, for the vast majority of us, our reno budget is one of the…
10 of the best online tools to help you plan your renovation
In partnership with Latitude Financial Services As most of you know, I’m knee-deep in renovations at my house, so I thought I’d put together a list of handy online tools…

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While we featured a gloriously colourful home on M While we featured a gloriously colourful home on Monday, this one is a masterclass in serene neutrals! And how good is this bunk room?!

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Washable rugs, eco-friendly play mats, reversible Washable rugs, eco-friendly play mats, reversible linen, gorgeous wallpaper and the chance to win a beautiful bouclรฉ recliner chair!

Today's kids room roundup is full of loveliness if we don't say ourselves!

Via link in bio now.

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A glass shower screen is not the only option! In A glass shower screen is not the only option!

In this 80s villa reno, @trentinidesign took inspiration from an archway typical of the era and used it throughout the home.

The bathroom was transformed from a classic three-piece set up that included a shower, bath and vanity. Kathryn removed the bath and split the room in half and designed an arch to sit between the two zones. 

โ€œI wanted something spectacular. Rather than having a vanity with a piece of glass like you would typically see, I was really trying to push myself as a designer. It was costly but it worked out well and the feedback has been great."

Swipe for the before and follow the link in bio to see the rest of this home.

#bathroomdesignideas #bathroomtrends2023 #showerscreen #showerscreens #archways #apartmentrenovation #interiorsblogger #interiorsaccount #interiorsaddict #theinteriorsaddict #jenbishop #realreno
One half of popular parenting podcast @wedonthavet One half of popular parenting podcast @wedonthavetimeforthis, turns out former Neighbours actor @gemma_peanut is even more multi-talented than we thought! Will you check out the joyful and colourful reno of her holiday home (and airbnb) @yo_caba_caba?!

Head over to the blog via link in bio to read all about why she went bold and full of pattern in this project, which is a stark contrast to her zen and neutral Northern Beaches abode.

There's also plenty of details about where things are from etc.

"Iโ€™m not an interior designer so I just chose what I liked and followed my gut. Ultimately this home has been an opportunity to explore my alter ego โ€“ it allowed me to do things that I wouldnโ€™t normally do.โ€

๐Ÿ“ท @tanikablair_photography 

#interiorsblog #interiorsaddict #theinteriorsaddict #jenbishop #gemmapeanut #wedonthavetimeforthis #parentingpodcast #parentingpodcasts #holidayhousesofinstagram #cabaritabeach #airbnbstyle #airbnbstyling #colourandpattern #wallpapergoals #patternedtiles #featuretiles #poolgoals #sparkjoy #yocabacaba #boldinteriors #funinteriors #colourfulkitchen
Not many friends in life fall into the unofficial Not many friends in life fall into the unofficial family category and they're a special gift. So ends three weeks with @danisteve81 who left her husband and son in the UK (I'm forever grateful they lent her to me!) to come and cheer me up and help me in the most practical ways after I spent Christmas and New Year in hospital. There were tears and I miss her so much already but how amazing to have had all that time together as adults. Such a rare treat and would never have happened without having been through something so challenging. Silver linings and all that. So many other friends have also been incredibly thoughtful and kind. There aren't many times I'd say this without cringing but I am 100% blessed!

I still cannot believe we have been friends since we were 12! 12! Are you still close with your childhood besties?
The renovation of this 80s beach shack @camillo_ho The renovation of this 80s beach shack @camillo_house is a work of art and while almost every surface was updated, the decision to keep the original slate floor was genius if you ask us. 

Owner @clarehillier__ says: "With its purple, pink, red and brown tones, the slate was the starting point for our interior palette."

Come and check out the before and afters via link in bio now and read the reno story. It's a real beauty.

And you can book it for your next holiday too!

Blair Smith Architecture @kateshanasy

#slatefloor #slatefloors #80shouse #80sbeauty #camillohouse #interiorsblog #interiorsblogger #interiorsaddict #theinteriorsaddict #jenbishop #realreno #holidayhousesofinstagram #morningtonpeninsulahomes #morningtonpeninsula #morningtonpeninsulasmallbusiness #blairgowrie #blairgowriebeach #airbnbstyle
Me and my boys ๐Ÿ’— Me and my boys ๐Ÿ’—
Just a couple of dorks who've been friends for thr Just a couple of dorks who've been friends for three decades going out for a child-free dinner ๐Ÿ’“๐Ÿ˜
Excuse me while I die of a cute attack ๐Ÿฅฐ @damia Excuse me while I die of a cute attack ๐Ÿฅฐ @damianfrancis 

This doesn't happen often these days!
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About Skye Viviers

Skye Viviers is a fourth year student at UNSW, completing an internship at Interiors Addict as part of her degree.

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