Compare House Extension & Renovation Costs

The Home Extension & Renovation Cost index

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HERC Index

Source: Cape Cod Australia

October 2013

Home Extension & Renovation Cost Index

Cape Cod is pleased to provide the findings of this month’s HERC Index.

October figures indicate a price increase of approximately 1% on an average project, from 105.4 to 106.4 on our base (for a reminder on how the Index is calculated, please click here). There were several contributing factors behind this rise:

  1. Increased construction labour rates for 2014 now being factored in to all new quotes;
  2. A significant jump in scaffolding costs of 10% (however, this is the first rise in such costs for 36 months); and
  3. A small but notable increase in timber costs relating to imported timbers.

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