The home renovations sector of the housing construction market in Australia has hit rock bottom and should now start to recover, a leading building industry group in Australia says.

Releasing the Winter 2013 edition of its National Outlook report, the Housing Industry Association (HIA) says it expects the overall dollar value of renovations investment throughout the country will have plummeted 6.6 per cent to decade-long lows of $27.959 billion in 2012/13 when final data comes in, but would bounce…