Sydney’s lower north shore is at the forefront of a renovation frenzy, as residents of the exclusive neighbourhood are choosing to improve their homes rather than try to upgrade to a better location, according to domain.com.au.
Mosman is leading the pack with homeowners spending more than $55 million for renovation work in the first four months of this year alone, 127 per cent more than the same period last year. One dollar in every four spent on renovating in Sydney ($400 million) was in the Mosman council area over the four months this year.
Other hotspots include Chatswood East and Artarmon, up 130 per cent, and Willoughby, Castle Cove and Northbridge, up 70 per cent. North Sydney and Lavender Bay are the suburbs with the biggest rise in home improvements, with spending there up about 250 per cent, the figures showed.
Graph by news.domain.com.au