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1.Market Observations, 8.Was Sticky

9 Nov 2016 (AFR) – Dulux boss says home renovation and DIY stronger even if house prices peak

(9 November 2016, AFR, p15, by Simon Evans)

‘Australia’s home renovation market should strengthen over the next 12 months because housing “churn” is slowing down and more property owners are choosing to renovate rather than move, the managing director of paint maker Dulux Group said. Patrick Houlihan said it was difficult to forecast whether residential real estate prices were at a peak in Sydney and Melbourne and only “time will tell” if they would move higher, but the renovation market was strong and likely to remain highly resilient even if the housing market was more subdued.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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