Compare House Extension & Renovation Costs

The Home Extension & Renovation Cost index

Brought to you by Cape Cod Australia

HERC Index

Source: Cape Cod Australia www.capecod.com.au

August 2017

Home Extension & Renovation Cost Index

The HERC Index moved only very slightly during August (around 0.08%), reflecting some past cost increases that had not yet been applied.

Over the last 12 months, construction labour cost increases have put upward pressure on project prices, however, the HERC Index shows that overall the cost of a major home renovation increased by just 2.61%.

The demand for major home renovations remains strong, with higher Sydney property values bringing down the relative cost of adding more liveable area. For many families, a home addition remains a viable alternative to re-locating.