Houzz is a trusted source which offers those with a keen interest in purchasing, buying and renovating property with relevant insights on market trends throughout Australia. This study is a result of survey findings from 7,824 Australian homeowners, in regard to their renovation plans for 2019. This annually released report provides an accurate overview of home renovation activity in 2018 and 2019 with details on median spends and renovation planning insights, broken down into sufficient and relevant categories.
The 2019 Houzz & Home Renovation Trends Study—reveals a (16%) spend increase for kitchen renovations which brings the median spend to $20,000. Kitchens are known as the heart of the home and in 2018 and 2019, kitchens have shown to be the most popular renovation area within Australian homes. Due to the high levels of daily activity centred around the kitchen, along with the ability a kitchen renovation has to add value to your property—many Australian homeowners are happy to commit to a kitchen renovation. This comes as no surprise, as kitchen renovations can improve your return on investment (ROI) and increase the overall liveability of your home or investment property dramatically. BJF Joinery, supports leading market research that helps our customers renovate their homes in the most cost-effective and appropriate manner. Here at BJF Joinery, we share a goal with our customers which involves increasing the functionality and resale value of our customers’ homes through our exceptional renovation outcomes and thorough understanding of the Australian renovation sector.
Activity and spend: 2018-2019 trends.
The kitchen renovation spike brings kitchen renovations to (26%) of surveyed homeowners which means more than a quarter of homeowners opted to renovate their kitchen in 2019. This is followed by living rooms at (23%), then bedrooms, bathrooms and laundries all coming in at an equal (17%). The overall renovation activity remained strong through 2018 with half of homeowners renovating an average of three rooms per project, at an overall median spend of $20,000. Almost half of homeowners (47%), had planned to continue or begin their renovation in 2019. The renovation activity was dominated by the Baby Boomer generation (55-57) with a median overall spend of $21,000, and Gen Xers (aged 40-54) with a median overall spend of $23,000. These two categories combined represent over three quarters of the renovation activity (79%) that occurred in 2018/2019. In addition to these figures, (41%) of Gen Xers and (35%) of Baby Boomers anticipated commencing new home renovation projects in 2019.
The Baby Boomer and Gen Xers main motivation for renovating their homes is because they want to stay in their current home or area, whereas Millennials (ages 25-39) were choosing to
stay in their existing home and renovate as this is more affordable than moving in the current market.
What are we doing to our homes?
See below the frequency of activities related to the primary home in 2016, 2017 and 2018, as well as the median renovation spend per renovating homeowner in 2016, 2017 and 2018, overall and by age—as reported by homeowners on Houzz Australia.
How are we funding our home renovations?
See below the frequency of top five funding sources for home renovations, overall and by age—as reported by homeowners who renovated their primary homes in 2018. Year-over-year comparisons are not possible due to a change in question wording.
Why are we renovating?
See below the frequency of top five reasons for starting renovations, overall and by age—as reported by homeowners who renovated their primary homes in 2016, 2017 and 2018.
See below the frequency of priorities during renovations, overall and by age—as reported by homeowners who renovated their primary homes in 2018.
See below the frequency of top five challenges during home renovations, overall and by age—as reported by homeowners who renovated their primary homes in 2018.
What areas of the home are our focus?
See below the frequency of most popular 2016, 2017 and 2018 renovations of interior rooms, as well as 2018 upgrades of home systems, exterior building features, and outdoor features—as reported by homeowners who renovated their primary homes.
How many features are upgraded?
See below the average number of upgrades during home renovations in 2016, 2017 and 2018, and frequency of these upgrades by age—as reported by homeowners who renovated their primary homes.
How much do we spend on interior renovations?
See below the 2017 and 2018 median spend on interior room renovations, as well as the percentage change between 2017 and 2018—as reported by homeowners who renovated these interior spaces in their primary homes.
Home renovation hiring insights.
See below the frequency of professional hiring in 2016, 2017 and 2018, overall and by age—as reported by homeowners who renovated their primary homes.