How Much Traffic do you Really Need?
How Much Traffic do you Really Need?
5 Steps to Creating Successful Ads

Victorian home renovations: Owners paying near-record sums to overhaul their properties [Video]

Categories
AI Behavioral Targeting

Victorians have spend more than $3.9bn on permitted home renovation works in the past financial year.

Victorians are spending near-record amounts renovating their homes, with a growing number embracing energy efficient overhauls to fight soaring bills.

But industry insiders fear cash-strapped owners are turning to unregistered, uninsured tradies and handymen, or even risking major updates as do-it-yourself projects.

Housing Industry Association analysis of Australian Bureau of Statistics data in the past financial year shows the state has stumped up more than $3.902bn for works with permits, just short of the $3.908bn record set in 2022.

RELATED: Melbourne friends consider joint home purchases amid crisis

Forever suburbs: Places Melburnians never leave revealed

But the industry group has estimated notional demand for home updates should be closer to $12bn, based on historic data showing most residences receive a major update every 20 years.

The gap has been growing since the start of the pandemic, and additional HIA estimates show that despite near-record spending, the number of renovations in …

3 Steps to Building a Targeted Audience
3 Steps to Building a Targeted Audience
12 Steps to Create Videos