In a climate of low interest rates and declining property prices, NSW homeowners are expected to focus on renovating their properties rather than purchasing new ones.

For Mathias Royce, renovations were always on the horizon when he purchased a two-bedroom apartment in Cremorne, on Sydney's lower north shore, last year.

"We fell in love with the place, but weren't happy with the way it was decorated or furnished. We basically did a cost-benefit analysis to find out it was cheaper to renovate," he said.

Mr Royce said finding a property which had been recently renovated, in a similarly desirable location, would have cost "hundreds of thousands" more.

"We were looking all the way from Crows Nest to Mosman for comparable properties....for us to find something up to standards, the way we wanted, would have been [up to] $200,000 more."

The renovations Mr Royce intends to complete are expected to cost between $50,000 and $60,000, a figure which is still around 3.2 per cent higher than the national average.

But a bigger price tag for renovating and hiring tradespeople has not been the only strain for NSW apartment owners, like Mr Royce.

Current strata laws state that a special resolution (with approval from 75 per cent or more of a building's owners corporation) is needed by any owner looking to undertake cosmetic, minor or major renovations.

The unpopular law has left many owners unable to conduct even the smallest of refurbishments without approval; such as installing or replacing hooks for paintings, laying carpet or installing wardrobes and curtains, prompting the NSW Parliament to act when it announced  more than 90 changes to be made to NSW strata laws.

"By 2040 half of people in NSW will either be living or working in strata. It is important that we have modern laws that reflect 21st century strata living," said Innovation and Better Regulation Minister Victor Dominello.

Describing the new law as "long overdue," Mr Dominello said they would "simplify the renovation process for homeowners" and provide "greater clarity on what constitutes a cosmetic, minor and major renovation," when they commence in the second half of this year.

Under the new law, owners will be able to undertake cosmetic renovations without owners corporation approval and complete minor renovations with 50 per cent approval, while major works will still require a special resolution of 75 per cent or more.

With a number of cosmetic and minor renovation plans for his apartment, Mr Royce said he was pleased about the changes.

"I have lived in several European countries and if you buy into an apartment it's always different, country to country, but it is...clearly documented and [in Australia] there is nothing at the moment, there is just a lot of interpretation."

Data released last month by the Housing Industry Association, which represents more than 40,000 industry members, found renovations activity across Australia totalled $30.38 billion in 2015, while the volume of renovations work was 4.4 per cent higher than the previous year.

This, coupled with a shortage of both experienced tradespeople and apprentices entering the industry, has caused demand to exceed supply.

"Consumers need to be aware of the experience and knowledge of the trade contractors they engage," said Housing Industry Association spokesperson Graham Wolfe.

He said in the current climate there was "potential for people to be frustrated" if they could not secure a licensed contractor.

"But consumers should not be persuaded to feel compelled to use somebody who is not licensed, just to get the work done," Mr Wolfe said.

Over the 2014-15 financial year, more than 65 per cent of home building complaints lodged with the NSW Department of Fair Trading referred to workmanship, with 2586 related to defective works.

With just under two months remaining in the 2015/16 financial year, there have been 2560 complaints of the same nature.