Australian renovation trends and insights 2016

Australian Renovation Trends and Insights

In the 2015/2016 financial year, Australians spent a massive $7.7 billion renovating their homes and properties. Each year 8 million Australians do some form of renovation to their properties, with over 2 million spending over $5,000. The costs of renovations vary widely, from anything from a tin of paint right through to a complete remodel.

The main reason for renovating is to improve aesthetics (9.0), functionality (8.8) and increasing the resale value (7.9) of the property. With the average return being $2 for every $1 spent, renovations are a great way of achieving your dream lifestyle.

The following infographic helps illustrates some of the most recent stats and insights into the Australian renovation market.

Australian Renovation Trends and Insights infographic

Australian Renovation Trends and Insights infographic

Sources:

1: https://www.deppro.com.au/blog/australians-spent-record-77-billion-renovations-last-financial-year

2: http://www.roymorgan.com/findings/eight-million-enovated-or-redecorated-201304220209

3: http://www.architectureanddesign.com.au/news/australian-homeowner-survey-reveals-renovation-des

4: http://www.afr.com/real-estate/one-in-three-plan-to-renovate-their-homes-survey-20160317-gnlqac

5: https://www.customsbank.com.au/renovations-on-the-rise-in-australia/

6: https://hia.com.au/~/media/HIA%20Website/Files/Media%20Centre/Media%20Releases/2016/national/Renovations%20Recovery%20Continues%20to%20Battle%20On.ashx

7: http://www.architectureanddesign.com.au/news/australian-homeowner-survey-reveals-renovation-des

8: http://www.domain.com.au/advice/expert-tips-on-renovating-to-add-value-to-your-home-in-2016-20151216-glnnl8/