Renovation Blitz

Homeowners are spending up big on renovations with Brisbane crowned Australia’s renovation capital.

With an average of $88.5 million worth of residential renovation work approved every month over the past five years, Brisbane LGA tops the list of LGAs according to the FurnitureTrader Renovation Boom.

The Northern Beaches LGA in New South Wales is second with nearly $33 million a month approved and the Gold Coast LGA is third ($26.5 million).

Melbourne LGA is fourth ($25.9 million a month approved) and Stonnington LGA rounds out the top five ($25 million).

According to the report, nationally, approved renovation values rose 27% over the past five years.

Sam Cain of FurnitureTrader says renovation demand isn’t just about where people can afford to renovate; it’s about where the housing stock still has room to grow into.

“Some council areas, like Brisbane and the Gold Coast, are approving tens of millions in renovation work every month and still rising, while others have shown a stark decline over the same five-year period,” he says.