More than 370,000SME builders and tradies will be big winners as Aussie homeowners spend anexpected $44 billion renovating their properties over the next five years.
"The vast majorityof home renovations are done by the small building businesses which make up 98per cent of our industry," Denita Wawn, CEO of Master Builders Australia.
"The latest forecastof building and construction activity predicts that the renovation sector willgo from strength to strength and continue to build on the decade high $8.3billion in activity seen in the last financial year," she said.
"Renovations isalready a key source of work for small and medium sized building firms. The $8.3 billion in renovation activity achieved last year is only thebeginning and small builders and tradies can expect an average $8.8 billionpipeline of work each year," Denita Wawn said.
"The sector will bean important source of growth and jobs as the construction of new homesmoderates from the historic high levels seen over the past few years," shesaid.
"There is great newsfor builders outside the eastern states and in regional Australia. In fact weexpect growth in renovation work to be strongest outside the Melbourne andSydney markets - in South Australia, Western Australia, Queensland and regionalAustralia," Denita Wawn said.
"Young men and womenlooking for a great career will also be winners as this growth will supportmore well-paying jobs in the building trades," she said.
"The ‘reno’ boom isgoing to be great news for communities in every city, town and region wherethis boom in activity will mean more than 32,000 Master Builders around thecountry will continue to boost local economies and create jobs," DenitaWawn said. ---
