Property buzz word for 2009 is 'renovate'
Saturday, 27 December 2008
A reluctance to sell property in the current economic climate or take on more debt by upgrading to a more expensive property means that renovations are expected to rise in the next year. There has also been an increase in interest from first home buyers in properties classified as ‘renovators dream’ – believing it is a more economical way to buy a first home. The doubling of the First Home Owners grant and lowering of interest rates allows extra cash for home improvements. It's reported that in Brisbane there is still plenty of houses requiring renovation within 12km of the CBD and selling below $500,000.
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