HERC Index

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

November 2017

Home Extension & Renovation Cost Index

The HERC Index remained steady in November, with no increase in the cost of a typical home renovation and first floor extension in Sydney. This is in the face of rising CPI, as shown on the graph below. Also to note is that while the Residential Property Price Index (RPPI) for Sydney shows a slight decrease since mid-2017, it has still risen dramatically over the past 12 months compared to both the HERC Index and CPI – perhaps a driving force behind increased demand for renovations, as covered in our September update.

 

Source:
www.abs.gov.au

Connect with us