Archicentre expects that renovations, extension
costs and new home costs could increase by 2% over the
next six months. However, continuing low interest rates
still make renovating an extremely attractive
proposition for home owners wishing to increase their
living space and value of their
properties.
Releasing its spring edition of the Archicentre
Cost Guide, Archicentre's Managing Director Robert
Caulfield said the raft of Federal and State Government
stimulus packages including new school buildings, first
home buyer grants and insulation rebates have begun to
have a substantial impact on activity levels within the
building industry.
Following a drop in the
volume of construction and a drop in costs by up to 5%
in some sectors in the first half of this year as
predicted, Archicentre has begun to see increases in
building volume and slight increases in the cost of some
building materials.
The rates for repair
and maintenance costs in this guide remain unchanged
from the winter edition, however, there is a slight
increase in the costs of renovations and
extensions.
With rising water and energy costs across Australia
people are increasingly focusing on having sustainable
features included in renovations.
Archicentre's
Guide to Sustainability includes current costs of
common water and energy saving features.
