The home kitchen remains the most renovated room in the house. Australian homeowners are expected to spend record amounts on renovations in 2018/19. The kitchen still tops the list of the most popular space to remodel within the home. Upgrading kitchens continues to be fed from the ideal economic conditions of low borrowing rates and the tax advantages of reinvesting in your own home. Roughly around 30% of Australians spend between $70K and $200K renovating their home and a third of that is spent on new kitchens. We are in a renovation boom according to commentators within the industry. Kitchen renovations remain a lucrative business for those cabinet makers and companies in the industry.
The Kitchen Renovation Boom in Australia
High housing prices in Sydney and Melbourne have fuelled the renovation boom and, although, these are now falling, the trend towards makeovers and extensions has not decreased. In fact, the boom in kitchen renovations is boosting demand for things like new kitchen and cookware goods. The Housing Industry Association (HIA) is reporting strong growth ahead for the renovation sector of the building industry. Australia has a $32 billion renovation industry , according to their figures. Bathrooms are not far behind kitchens as very popular rooms to remodel in existing homes.
National Franchise Organisations in the Kitchen Makeover Business
There are numerous examples of excellent outfits and companies who exclusively specialise in kitchen renovations. See online here another fine national group who have kitchen makeover specialists in Sydney and all the other main cities. This type of franchise operation provides buying and marketing power in a crowded market. This $32 billion industry is alive with cost effective new kitchen solutions for homeowners and businesses around the nation. Doing the job quickly and well are the hallmarks of this sector of the building industry.
Kitchens Star On Our TV Screens
Comparing figures over the years, Roy Morgan Research has shown that home renovations have steadily increased over the years between 2013 and 2016. Renovations were up from 7, 509 to 8, 393. Some 62% of Australians did some sort of renovation on their home in 2017. The kitchen has attracted heaps of attention in the media through TV cooking shows and reality TV shows. What once was the ugly duckling or ugly sister in the family, is now, a bona fide celebrity. Kitchens are no longer the exclusive domain of women either, with blokes donning the frilly apron more often.