Powered by MOMENTUM MEDIA
development
1 minute read

Where are homeowners placing their renovation efforts?

Where are homeowners placing their renovation efforts?

by Emma Ryan | September 18, 2019 | 1 minute read

New research has shown where property owners are putting their money when it comes to renovations, with kitchens claiming the top spot for spend over the past year.

Renovation
September 18, 2019

According to the annual Houzz & Home Australia survey, kitchen is the area where the majority of homeowners are focusing their efforts on when it comes to renovation work.

Out of those surveyed, 26 per cent said they’ve renovated their kitchen over the past year, with a median spend of $20,000.

Living/family rooms were next on the list of priorities, with 23 per cent of respondents saying they’d completed renovation work in this area over the past year.

Bedrooms (master and otherwise), bathrooms and laundries were all equally popular this year, with 17 per cent of survey respondents saying they’d completed renovations in these areas.

Advertisement
Advertisement

Other upgrades

The research also revealed the top home system upgrades, top exterior feature upgrades and top outdoor feature updates completed by homeowners over the past year.

When it comes to the top home system upgrades, 33 per cent of respondents selected plumbing, followed by electrical (32 per cent) and cooling (25 per cent).

For top exterior feature upgrades, 28 per cent said they’d invested in exterior paint work, 24 per cent said gutters/drain pipes and 21 per cent said windows or skylights.

In terms of top outdoor feature updates, 33 per cent of respondents said they’d focused on beds and borders, 25 per cent said planters or planter boxes and 24 per cent said fencing.

Despite a number of headwinds for the global and national economy, renovation activity continued to keep pace in 2018 and will likely experience a robust growth in 2019,” said Nino Sitchinava, PhD, Houzz principal economist.

“Pent up demand continues to drive renovation activity, while spend on discretionary projects such as kitchens continues to grow, signaling strength in consumer confidence.

About the author

Emma Ryan

Emma Ryan

Emma Ryan is the deputy head of editorial at Momentum Media and editor of Smart Property Investment.

Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.

Email Emma on: [email protected]com.au

Where are homeowners placing their renovation efforts?
Renovation
spi logo

Subscribe to get the latest news and updates - join a community of over 80,000 property investors.

Check this box to receive podcast updates

From the web

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.