Sydney’s reno hotspots revealed
New data has analysed where in the greater Sydney area has seen the most amount of renovation activity, pointing out which suburbs are likely to have both updated property and property in need of renovation.
By looking at renovation data of 5,000 jobs during 2017, tradie marketplace ServiceSeeking has identified where the largest demand for renovation work has occurred, which can help investors locate suburbs with high probabilities of recently renovated properties as well as areas where property can be renovated to sell.
According to Jeremy Levitt, CEO of ServiceSeeking, the majority of the renovation work that happened last year was located in the greater western Sydney area.
“With a developing CBD in Parramatta, many white collar workers can live in these outer suburbs with less of a commute to work, and a smaller mortgage. Additionally, houses further from the CBD tend to be larger in size with more scope for home improvement, renovations and repair jobs,” Mr Levitt said.
“Residents living in the eastern Suburbs renovated 40 per cent more than their counterparts across the bridge in the lower north shore. Most notably, those living in Bondi Beach required 47 per cent more renovation services than those in Mosman.”
The greater western Sydney area saw a 187 per cent rise of renovation jobs, followed by the north shore with 104 per cent more renovation jobs, then south-western Sydney at 86 per cent more renovation jobs, the eastern Suburbs at 75 per cent more renovation jobs, and the inner west at 61 per cent more renovation jobs.
The suburb that saw the most renovations was Blacktown, with 9.8 times more renovations than average. Next was Baulkham Hills at 9.4 times more renovations than average, then Barangaroo at 8.1 times more renovations than average, Quakers Hill at 5.7 times more renovations than average, Parramatta at 4.2 times more renovations than average, Castle Hill and Surry Hills at 3.9 times more renovations than average, Ryde at 3.7 times more renovations than average and Carlingford at 3.6 times more renovations than average.
Meanwhile, Sydney City was well below the average for renovation jobs, with 72 per cent fewer renovation jobs, followed by the northern beaches at 35 per cent fewer jobs, then the Hills district at 20 per cent fewer jobs and the northern suburbs at 17 per cent fewer jobs.
The suburbs that saw the least amount of renovations last year were Clontarf, Clareville, Roseville, Willoughby, Millers Point, Balmain East, Watsons Bay, McMahons Point, Church Point and Berowra.
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