Record home building in the 80s to spur a $3b renovation surge over the next three years

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first_imgHome remodelling is expected to rise as more older homes hit the market.“The very elevated levels of new house building during the second half of the 1980s augurs well for renovations demand over the next few years – in fact, the 12 months to June 1989 remain the strongest on record for new detached house commencements and these will become increasingly ripe for renovations work in the next couple of years,” according to Mr Garrett. Dream project: Cheapest home in “paradise” Taxing issue: Foreign owners selling to avoid tax More from newsParks and wildlife the new lust-haves post coronavirus1 day agoNoosa’s best beachfront penthouse is about to hit the market1 day ago Upgrade option: Perfect home for a huge renovation In Queensland renovations activity was expected to gain momentum, rising by 4.2 per cent in 2019 and then by 5.9 per cent in 2020 – taking the value of reno work to in the state to $7.68b.“The stock of houses of ripe-renovation age (30-35 years) in Queensland is set to expand very strongly over the coming decade, which will provide the foundations for a sustained recovery in the state’s renovations market,” according to the latest HIA Renovations Roundup Report. Young couple painting wall in their room; generic renovationsIt said nationally between mid-2017 and mid-2020, the number of detached houses in the 30-35 year age group would rise by 8.3 per cent to 552,600 with a further 1.9 per cent increase between 2020 and 2023.“The stock of houses in the prime renovations bracket is expected to peak at 588,900 during early 2025 – about 15 per cent higher than in mid-2017.”The outlook was also good for jobs in the renovations industry, with two out of every five employers expecting to boost their headcount in the next 12 months.“This is a strong vote of confidence in the durability of the current renovations market recovery.”The updated forecast for home renovations growth was a 0.2 per cent rise this year, 0.4 per cent next year, 4.9 per cent in 2019 and then 2.9 per cent in 2020. *FOLLOW SOPHIE FOSTER on Twitter or Facebook **FREE: Get The Courier-Mail’s real estate news in your inbox A building boom in the 1980s is expected to see a large number of homes become “ripe” for renovation over the coming three years.ANALYSTS are predicting a massive $3 billion surge in renovation activity as a record number of homes built in the 1980s become “ripe” for rejuvenation.Housing Industry Association senior economist Shane Garrett expected the renovation market to hit $35.12b by 2020 as the record volumes of homes built in the 1980s “become increasingly ripe for renovations work”.Mr Garrett said there was a “strong correlation between the volume of renovations work and the age of the housing stock. The more houses between 30 and 35 years of age, the greater the need for renovations and improvements.”last_img read more

Belgian gambling authority investigating Battlefront II loot boxes

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first_img Submit Related Articles DCMS calls for further review into loot boxes June 8, 2020 StumbleUpon SNP pushes for gambling modifications as part of wider digital rethink November 27, 2019 Share Belgian regulator suggests restrictions on gambling adverts January 6, 2020 Share Star Wars Battlefront II was released this week, and with it came further questions surrounding the game’s use of virtual ‘loot boxes’.The game, created by California-based video gaming giants Electronic Arts (EA), has drew criticism for implementing these add-on boxes that must be purchased with real-life cash, and is now under investigation from the Belgian Gaming Commission. Critics say that the real-life cash aspect constitutes a form of gambling, and the game’s age certificate should reflect this accordingly. It’s currently age rated at 16+.Furthermore, the loot boxes found in Battlefront II are at the more extreme end of the spectrum, encouraging serious expenditure, with one computation estimating it would take at least 4528 hours of gameplay or $2,100 (£1585) to unlock all of its base content.The Belgian Gaming Commission’s policy reads: “Games of chance cannot be compared to any other kind of economic services. “They may cause people to become addicted to gambling and cause them to lose a great deal of money. For this reason, a number of protective measures have been implemented to protect players against these sorts of potential risks.”However EA has strenuously opposed the idea that loot boxes constitute gambling. In a statement it said: “Creating a fair and fun game experience is of critical importance to EA. The crate mechanics of Star Wars Battlefront II are not gambling. “A player’s ability to succeed in the game is not dependent on purchasing crates. Players can also earn crates through playing the game and not spending any money at all. Once obtained, players are always guaranteed to receive content that can be used in game.”It has been reported that the Dutch Gaming Authority has followed suit and is also investigating whether or not games with loot boxes should be considered gambling.last_img read more

Evgeni Malkin injury update: Penguins star (upper body) expected back for playoff push

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first_img“You always get a boost when guys get back in the lineup,” Sidney Crosby said. “Especially this time of year, games are so important. It would be huge.”The Penguins are in third place in the Metropolitan Division, two points back of the Islanders. Pittsburgh can’t win the division but could earn home-ice in the playoffs’ opening round with wins in their two remaining games (they close the season vs. the Rangers on Saturday) coupled with a loss by the Islanders, who play the Panthers on Thursday and finish with the Capitals on Saturday.In other Penguins injury news, defenseman Kris Letang (upper body) rejoined the team Wednesday for practice but was wearing a non-contact jersey. He has missed the past four games. “I feel like every day is better,” Malkin said. “I want to get back and start playing. We’ll see [Thursday]. If I feel fine, I have a good chance to play.”Barring any setbacks, Malkin likely will face the Red Wings at home, the teams’ second matchup this week. Related News The Penguins appear set to get center Evgeni Malkin back Thursday as they continue to push for a playoff spot in the regular season’s waning days.Out since March 16 with an upper body injury, Malkin said Wednesday (via the Pittsburgh Post-Gazette) that everything felt good during a practice in which he pushed the pace and even did some physical work in the corners. Malkin’s presence could give Pittsburgh’s offense a much-needed boost. Since Jan. 2, he has points in 22 of 27 games, totaling nine goals and 31 points. But he has missed eight games since Blues defenseman Robert Bortuzzo cross-checked him in the ribs in mid-March and could only watch as Pittsburgh, with a chance to clinch a playoff spot, lost Tuesday in Detroit, 4-1.The Penguins, though 4-2-2 in his absence, have scored two or fewer goals in six of their past nine games, with zero power-play goals in seven of the games.Per the Post-Gazette, Malkin skated on a line with Bryan Rust and Phil Kessel as part of a restructured top six during Wednesday’s practice and also reclaimed his spot on the top power play. Red Wings extend coach Jeff Blashill’s contract for 2 more seasonslast_img read more