‘Don’t do it’!: Aus move you have to avoid right now

Cherie Barber questions whether now is a good time to house flip. With property prices falling across the capitals, it may be tempting to bag a bargain and buy a fixer upper. But with material costs soaring, not all types of renovations are a good idea in the current market, experts say. MATERIAL COSTS SKYROCKET Australia’s Renovation Queen Cherie Barber says the Middle East conflict has led to both material costs and transport costs skyrocketing in the world of construction. “Six months ago you could get a 6m length of 110mm PVC for about 30 bucks,” Barber says. “Now, it’s almost $60.” She says skip bin companies are charging fuel surcharges while delivery fees in general have also gone up because of the higher cost of transport. Material costs for basic items like tiles and floorboards have also gone up. MORE: Nathan Cleary’s $5.5m move amid Fowler uncertainty Renovation costs have gone through the roof. Picture: Tim Hunter. Material costs already went up during the pandemic, she says, explaining that the current oil shock has been an additional blow. “The material cost on renovations is crazy expensive right now,” she says. “So, it’s not a great time to be flipping for profit.” ...