80's Building Boom Set to Bolster Market
The boom in house building in the late 1980's is set to provide big opportunities in the renovations market over the next decade, according to the latest edition of the HIA Renovations Roundup Report.
"Our analysis shows a strong correlation between the volume of renovations work and the age of the housing stock," HIA Senior Economist Shane Garrett said.
"The more houses between 30 and 35 years of age, the greater the need for renovations and improvements.
"The really good news is that the number of houses in this key renovations age group will increase substantially over the next decade - a result of record volumes of detached house building during the late 1980's. Houses belonging to the '1980's Club' will become increasingly ripe over the coming years.