The Housing Industry Association (HIA) and GWA Bathrooms and Kitchens have released the annual Kitchens and Bathrooms report, which found that the average number of bathrooms per dwelling is increasing in new homes.
While the total number of kitchen installations in new homes is estimated to have declined by 5.7% in 2016/17, the number of bathroom installations in new homes increased by 4.4% over the same period. However, potential renovation jobs in both kitchens and bathrooms are expected to rise between 2017/18 and 2018/19 from 154,085 to 154,759 and 231,498 to 233,083 respectively.
This is being driven by a decline in the number of homes being sold around the country, resulting in more people renovating to adapt their homes to their changing lifestyle. According to the HIA, total house sales are down 1.4% compared to a year earlier, while the renovations market is entering a growth phase that will continue through to 2020.
The report also revealed the value of bathroom and kitchen renovations is slightly more compared to the value of new home installations. The survey found the average value of a kitchen renovation was $21,840, compared to $21,132 for new home installations. For bathrooms, the average value of a renovation was $17,522, compared to $16,430 for installations in new homes.
An excerpt of the report can be found at https://hia.com.au/business-information/economic-information/economic-publications.
