Home renovations set to return in Victoria

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on October 15, 2021
Home renovations set to return in Victoria

Victoria is on track to surpass the 70% vaccination milestone earlier than expected, meaning home renovations are set to return.

Victoria's roadmap out of lockdown initially required 80% of people over 16 to have received a double dose before home renovations could resume. 

With the roadmap revised to a 70% rate, that milestone is now estimated to be hit by October 26.

However on Wednesday, Victoria's Chief Health Officer Brett Sutton said there was 'every chance' lockdowns would be lifted by October 22. 

"If we can go faster then there's open consideration for lifting lockdown, we're on track to hit the 70% mark earlier," he said. 

Mr Sutton said an announcement on the end of lockdowns would likely be made this weekend. 

Home renovations set to resume

Lifting of lockdowns in Victoria would mean home renovations can recommence, coming as welcome news to construction companies and home builders.

Housing Industry Association (HIA) Victorian Executive Director Fiona Nield said the reopening of renovations ahead of schedule will provide a much needed boost to the industry. 

“The Government announcement of the reopening of renovations in occupied homes at the 70% double dose vaccination milestone instead of 80% milestone is extremely welcome news for the many thousands of builders and their trades waiting to get back to work," Ms Nield said.

“There are thousands of small building businesses that have been unable to work during the lockdowns, both this year and last year, and this has caused great financial hardship.

“There have also been many families who have been living with partially completed building work in their homes.

“This news will provide welcome relief for all - builders, trades and home owners."  

HIA also said this will include works outside homes, allowing landscaping, painting and other outdoor projects to resume. 

“Including maintenance works in this announcement will also allow for many builders to undertake scheduled maintenance works at recently occupied homes, where a backlog has been created in the last few months”, Ms Nield said.


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Image by Immo-renovation via Unsplash

Disclaimers

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.

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Aaron joined Savings.com.au in 2021. He is a finance journalist with a keen interest in property, the share market, and improving financial literacy in young Australians.

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