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$65b renovation boom drives up prices and slows completion
Home renovators are being warned to expect even bigger price hikes and more shortages.
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A record boom in home renovations and unprecedented demand for timber and other building products is increasing costs by up to 30 per cent, causing shortages and delaying completion.
Suppliers warn timber costs have risen by up to 15 per cent and say there will be more rises before year-end due to “serious constraints” on imports because of global competition.
Home renovation boom is causing cost blowouts and delays.
Pixland
Low interest rates, rising property prices, the federal government’s HomeBuilder scheme and strong demand for extensions and renovations following COVID-19 lockdowns have resulted in record volumes of renovation applications and approvals, according to the Australian Bureau of Statistics.
Christine Holgateâs stamp of approval from friends in high places
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Christine Holgate is not without support in her crusade to clear her name. Judging by the heavyweights watching on as the former Australia Post boss testified in front of a Senate hearing on Tuesday, Holgate has some serious business on her side.
Despite COVID seat restrictions, her former boss at vitamin company Blackmores, chair
Marcus Blackmore, was prominent in the audience
. Blackmore had previously signalled his support for the embattled executive by inviting her to appear alongside him at the healthcare companyâs recent virtual annual general meeting.