2019 Houzz & Home Australia Renovation Trends Study

by Greg on October 11, 2019

Houzz 2019 trends report

The popular portal Houzz released findings of their annual 2019 Houzz & Home Australia Study, the largest survey of residential renovation activity with more than 8,800 respondents in Australia alone. The report found that median spend on kitchen renovations, the most popular room to renovate, grew by 16 percent in the past year to a median spend of $20,000.

Other highlights include:

Robust Year for Home Improvement: Renovation activity remained strong through 2018 with half of homeowners on Houzz renovating (50%) an average of three rooms per project, at an overall median spend of $20,000.

Renovation activity driven by older generations: Baby Boomers (ages 55-74) and Gen Xers (ages 40-54) combined represent over three-quarters of the renovation activity (79%), at a median spend of $23,000 and $21,000, respectively. 41% of Gen Xers and 35% of Baby Boomers anticipate new projects in 2019.

Energy Efficiency: Over two in five homeowners prioritize energy efficiency (43%) replacing windows and insulation, for example. This is particularly important for Baby Boomers when compared to Gen Xers and Millennials (50 percent versus 39 and 36 percent, respectively).

Smart Tech Top Priorities: Baby Boomers are more likely than Gen Xers and Millennials to rank smart technology as high priority. However, Millennials are still incorporating the most home assistants (22%), compared with one in ten Baby Boomers (11%).

Cash is King: When it comes to funding renovations, cash remains king (76%), followed by followed at a distance by credit cards that can be used anywhere (19%), and cash from home mortgage refinance (13%). Interestingly, reliance on credit cards is higher in Millennials than in older generations.

Finding the Right Pro for the Job: Nine in ten renovating homeowners get professional help during renovations (90%), with electricians, plumbers and carpenters in greatest demand (62, 51 and 40 percent, respectively).

You’ll find the following slides among other useful and interesting information in the full report:
Houzz 2019 Australia trends report
Houzz 2019 Australia trends report

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