HERC Index

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

January 2015

Home Extension & Renovation Cost Index

The Home Extensions & Renovations Cost Index for January 2015 shows no overall increase, so this month we provide readers with HERC Index comparison data against CPI and residential property prices figures from the ABS:

  • In 2013, the HERC Index rose by 2.89%, outpacing CPI (Sydney) at 2.6%1. In the same period, residential property prices increased by an average of 13.8%2.
  • By comparison, 2014 saw a HERC increase of 3.46% against CPI (Sydney) of 1.7%3. Mean house prices rose by 12.2%4 for the same year.

Sources:

  1. ABS – Consumer Price Index, Australia, Dec 2013
  2. ABS – Residential Property Price Indexes: Eight Capital Cities, Dec 2013
  3. ABS – Consumer Price Index, Australia, Dec 2014
  4. ABS – Residential Property Price Indexes: Eight Capital Cities, Dec 2014

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