Tag Archiv: 上海会所信息

Value to be had in flipping homes

first_imgTOWNSVILLE’S buyer’s market has led to a resurgence in renovations in recent years with low-end properties being snapped up for a bargain.From Queenslanders and miner’s cottages to 1970s brick homes, buyers are being drawn to bargain properties to flip for profit or turn into a stunning family home — all for a minimal mortgage repayment.According to The Housing Industry Association, Townsville’s love for renewal is not surprising with the agency predicting a rise in renovation work of almost $3 billion by 2020 across Australia.The HIA Renovations Roundup report said renovations grew 2.7 per cent last year to $33.06 billion, but that was expected to hit $35.94 billion within three years.While this year was expected to see a slower pace of growth at 0.3 per cent, that was expected to accelerate to 3.2 per cent next year, 2.4 per cent in 2019 and a further 2.5 per cent in 2020.Living Here Townsville sales agent Margaret Hill said renovation shows such as The Block had a big impact on the city’s property market.“I think it’s a good thing as it allows people to make the house their own,” she said.“There’s no doubt Townsville gets its healthy share of renovations and I actually sell a lot of homes that were renovated for profit.”With renovations on the rise, Ms Hill urged homeowners to use appropriate tradespeople, particularly if they hoped to sell the property.“It will definitely show during resale of the home. Buyers can tell whether a home was renovated privately or by qualified tradespeople,” she said.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“While there are some things that can be done by the owner, things like carpentry and water proofing bathrooms should be left to the professionals.”HIA senior economist Shane Garrett says he expects renovations will make up a greater part of the building mix as new home building declines.“2016 marked the strongest year since WWII for new home building starts in Australia but our forecasts indicate that activity is set to decline … over the next three years,” he said.“In this context, our industry will become more dependent on work related to home renovations activity.”Mr Garrett said turnover in the established house market was an important driver of demand.last_img read more