|The only magazine in Australia to focus exclusively on home renovations is now broadening its appeal with the change of its name to Renovate.
"Market research indicates that most people think of renovating and extending as much the same thing," commented Associate Publisher, Janice Williams, "So we've simplified our masthead and added the tag line that explains our role - that is to provide Projects, Products & Ideas.
The publication has also been given a fresh new look and now offers greater depth of information.
"We have gained momentum in the past six months, so we see the improvements as a way to capitalise on a market that is already moving," commented Ms Williams.
Renovation tipped to grow 7 per cent this year
The Housing Industry Association tips renovation to grow by 7 per cent this year.
Construction bodies are indicating very significant growth for renovations in the capital cities where a number of factors are encouraging the swing to renovation. The inner city and suburban inner ring councils in particular are seeing a growth in applications for renovation projects.
There are a number of factors contributing to the growth of renovation:
• Homeowners wish to capitalise on the value of their residences
• Property prices have risen
• Renovation costs remain static
• The cost of moving to a better house in the same city is prohibitive
"Wages have remained static and interest rates have increased, so the idea of buying a better house in the same area just doesn't add up," commented Ms Williams. "If you take stamp duty, legal fees, agent fees and moving costs into consideration, consumers are better off creating the space they want in the home they have."