Renovations pack them in
RENOVATIONS will keep Cairns cabinet-makers busy next year with detailed kitchen and bathroom facelifts proving attractive investments for inspired homeowners.
While the Far North construction industry has downed tools for 2016, local companies are eyeing off packed schedules in the New Year.
Cairns Specialized Cabinets owner Michael Porta said many residents were choosing large-scale renovations rather than building new homes.
“They bought their properties to stay and invest in, which is what they’re doing,” he said.
“The end of 2016 has been really busy and we’ve been flat out trying to get things done before Christmas. This year about 70 per cent of our jobs were home renovations.
“Many of the local guys are happy with how things have gone in 2016 and are looking forward to next year. It’s not boom time, but it’s steady.”
Mr Porta said the popularity of reality TV shows like
The Block had influenced creativity among homeowners.
A market snapshot released earlier this year by the Housing Industry Association (HIA) estimates the nation’s renovation industry will reach $31.8 billion in 2017, a growth of about $3 billion from 2013.
But Russell Kelly, owner of Cairns company Artizan Cabi- nets, said this year had been slower than 2015.
“Things slowed down after 2008, but 2015 was probably our best year ever,” he said.
“It’s swings and roundabouts, but we’ve got January and February pretty much booked out.”
HIA senior economist Shane Garrett said home renovation “had a lot going for it”.
“The turnover of existing homes also generates additional renovations demand. This is important because many renovation jobs are initiated by the new buyers of ageing houses,” he said.
“Overall we anticipate renovations activity will continue to grow modestly over the next few years and take up some of the slack that will result from weaker levels of new home building.
“With annual home renovations expenditure topping $31 billion, the sector packs a punch across the economy.”