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Smart Property Investment has released the findings of a new report predicting houses belonging to the ‘1980s club’ to become increasingly ripe for renovation work. The Housing Industry Association (HIA) has predicted the renovation boom, which is set to happen late over the next decade.
The renovation revelation follows the release of the latest edition of the HIA Renovations Roundup Report, which observes Australia’s home renovations market, recent developments and forecasts.
The report also breaks down the status of renovations in each state and territory with the top states set for a renovation boom in the next 2 years to be:
- NSW with 1980s properties forcasted to rise by 3.9 per cent in 2019
- Victoria is forcasted to rise by up to 5.6 per cent in 2019
- QLD‘s number of renovation-ready 1980s property is said to greatly increase by up to 5.6 per cent in 2019
- South Australia is expected to bounce back with a rise of 5.9 per cent in 2019
- ACT‘s expected growth is to continue at 8.6 per cent in 2019
Read the full article at Smart Property Investment.