HERC Index

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

March 2014

Home Extension & Renovation Cost Index

HERC Index data reveals zero change in pricing for the month ended 31st March, which is good news for consumers.

In other interesting data of note to our readers, Commonwealth Bank recently surveyed more than 1000 homeowners who had recently renovated. They found that the average increase from budget was 9.35%, and the average extension took almost 58% longer than expected. (Note: In contrast to the above, Cape Cod provide a fixed price agreement and also pay liquidated damages if the job is late). Find full details of the survey here.

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