Australians love their homes — but just how much?
Freshly released findings from Roy Morgan Research show that Australians have become increasingly lazy when it comes to renovating their properties.
The research organisation noted that despite the raft of home renovating reality shows gracing television screens, Australians are more focussed on watching and reading rather than getting down to the work.
So, are people afraid of overloading their credit cards or is there something else at play that’s driving down renovation activity and intention?
Big intentions, no action?
The overall number of Australians making home improvements is on the decline, despite the ability for those with home loans to tap into potential equity to fund renovations and boost their properties’ values.
The number of individuals aged 14 years or older who have “improved their home within the past year” has been dropping since 2010.
In the year to June 2010, 33.4 percent of individuals made minor repairs or alterations — a figure that dropped to 30.5 percent in the 12 months to June 2014. While 22.5 percent of Aussies picked up a paint brush to give their outdoor or indoor walls, window sills or ceilings a going-over in the 12 months to June 2010, this proportion dipped to 20.7 percent four years later.
Redecorating no longer a priority
Painting and repairing aren’t the only renovation areas getting less attention.
The proportion of Aussies who refurbished or redecorated their humble abodes slipped from 17.4 percent to 16 percent over a four-year period.
From curtains to carpet, Australians are less interested in decorating. Not only are fewer Australians brightening up their properties, less actually intend to do so.
Perhaps the impressive renovations completed on renovation shows like The Block are doing enough to satiate Aussies’ renovation appetites?
But not everyone is slipping when it comes to sprucing up kitchens, bathrooms and bedrooms — certain Australians appear to be incredibly house proud.
Young parents love to renovate
“Our Helix Personas segmentation tool shows that ‘Aussie Achievers’ are the most house-proud go-getters, with both intention and completion rates well above the norm,” said Norman Morris, Roy Morgan Research Industry Communications Director.
“Typically hard-working, outer-suburban young parents with big mortgages and even bigger plans, over half of them intend to do at least one home improvement activity within the next year, from spending $5000 or more on renovations to getting plumbing or electrical work done or having insulation, security systems or rainwater tanks installed.”
Whatever the case may be, the news is not all grim. Residential building approvals are on the rise for the second month in a row as of August 2014, according to the Housing Industry Association. While renovation work may not be on the cards for all, an influx of new properties could certainly help ease overall affordability issues in coming months.