HERC Index

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

May 2014

Home Extension & Renovation Cost Index

The HERC Index continues to reflect ongoing renovation price stability, with only a minor increase during May (0.1 per cent) due to updated building practices requiring the use of more expensive materials.

Looking forward, the Housing Industry Association (HIA) believes there is still momentum for growth in Sydney and Melbourne housing prices (view the conversation here). If strong construction demand does continue, this will likely underpin input costs and therefore ensure the Index remains steady or indeed rises over coming months.

Connect with us