Home Extension & Renovation Cost Index
This month, we provide a comparison between HERC and the Residential Property Price Indexes for Sydney, based on latest available RPPI data. Whilst median property prices have declined by 7.8% over the last 12 months, home renovation costs increased 4.4% over the same period. Of interest, HERC data for the quarter ending March 2019 shows an increase of only 0.34%. By way of comparison, CPI is currently tracking at 1.7% pa.