HERC Index

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

February 2014

Home Extension & Renovation Cost Index

The HERC Index saw continued price stagnation in February, leaving the index standing at 106.9 – indicating a 2.9% increase in home extension and renovation costs for the past 12 months.

Other interesting data of note to our readers:

  • Design & Compliance fees typically account for 12-15% of the cost of a major home renovation project1.
  • According to the February 2014 report published by the Housing Industry Association (HIA) Economics Group, total investment in major home renovation projects for 2013/14 is forecast to be $28,788 million, which is a 1.8% increase over the 2012/13 year2.

1. Data provided by Cape Cod Australia.

2. Referenced from HIA here.

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