Spike in renos undeterred by property gloom

Jonathan ChancellorAugust 24, 2011

Home alterations and additions have escaped the fiscal consumer tightening, with a 4.5% annual jump in spending during the June quarter.

With an Easter and onwards fillip in alteration work around the home, some $1.72 billion was spent during the June quarter.

It was the highest June quarter outlay since 2008.

With spring in the air, and in the lead up to Christmas, the December quarter has always rated as the busiest quarter since ABS records began in 1987.

The only exception was in 2000 when – with the GST looming – the June quarter topped that year's quarterly outlay with $1.64 billion on alterations and additions.

In the 2010-11 financial year Australians spent $6.8 billion on alterations and additions.

It was $6.52 billion in 2009-10 and $6.64 billion in 2008-09.

The details were in the ABS preliminary statistics for the value of work done in Australia during the June quarter.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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