Con­fi­dence re­turns to mar­ket

Port Douglas & Mossman Gazette - - FRONT PAGE -

REN­O­VA­TORS and auc­tion­eers are reach­ing for their ham­mers as con­fi­dence re­turns to prop­erty mar­kets.

But DIY im­prove­ments do not al­ways add value and in some cases cre­ate cash losses. Ris­ing prices may partly com­pen­sate for an ill- thought-out ren­o­va­tion, but avoid­ing the pit­falls in the first place will en­sure the money is well spent.

The Aus­tralian In­sti­tute of Ar­chi­tects’ in­spec­tion and de­sign com­pany, Archi­cen­tre, has seen the best and worst of ren­o­va­tions, says gen­eral man­ager David Hal­lett.

‘‘If you’re ren­o­vat­ing to make a dol­lar, and of­ten peo­ple will sell as soon as it’s fin­ished, then you’re vir­tu­ally be­hav­ing like a de­vel­oper, in fact we’re now call­ing them ’reno-velop­ers’,’’ Hal­lett says.

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