Research from Roy Morgan has revealed that the number of Australian homeowners refurbishing their properties has skyrocketed in the last three years, all thanks to the influence of popular home improvement programs such as the “Block” and “House Rules”.
Close to 8.4 million or 62 per cent of Australia’s 13.6 million proud homeowners have renovated in the last 12 months in 2016—up from 7.5 million or 57 percent in 2013.
This research compares the data derived from two separate surveys done in 2013 and 2016 on home improvements taken by homeowners themselves who either owned their properties outright or were still paying it off.
“The latest figures from Roy Morgan show that, over the last few years, an increasing number of Australians are doing renovations or repairs of some description to their homes. Even bearing in mind that the number of people who own or are paying off a home has grown by 400,000 since 2013, the trend towards internal improvement is still trending upwards,” Roy Morgan Research chief executive Michele Levine said in a media release on Monday.
“With hugely popular reality TV series like “The Block” and “House Rules” inspiring DIY fervour among Aussie audiences and home ownership rising despite inflated property prices, hardware and home improvement retailers and tradespeople stand to benefit from this booming market,” he said.
The survey showed that minor repairs such as alterations were the most popular kind of home improvements, undertaken by just over 5.8 million homeowners followed by painting with 3.7 million owners giving their homes with a fresh coat of paint in the past 12 months.
“As our data also shows, homeowners who have been at the same address for a year or less tend to be more inclined to undertake renovations, alterations or repairs than people who’ve been at their address for longer,” said Levine.
“This indicates that they have recently purchased and moved into a home previously owned by someone else, and are making their mark on it. It’s not that renovation activity plummets once they’ve been in their home for a while, but that first year is particularly active,” he said.
The research also showed that plumbing and electrical were common among 3.4 million homeowners respectively, while 2.9 million people engaged in more decorative refurbishments such as installing new curtains, carpet or wallpaper.
The research also revealed that home improvement projects were more popular among Australians who owned homes rather than villa units or terrace.
“Meanwhile, Australians in the rental accommodation are less likely to be spending on renovations and repairs (generally the landlord’s responsibility) or even redecorating. When they do, the timing and decision-making process are very different, with longer-term tenants being more inclined to make home improvements. No doubt, feeling secure in their lease and established in their rental residence would play a role in this,” Levine concluded.