Australians the 3rd most likely to renovate their home in the world – new research reveals
How much do Australians love to renovate their homes?
Well, according to Compare Market Australia's latest research, Australia had the third-highest search volume for renovation terms, with an overall search term volume of 55.32 searches per month per 100,000 people.
Additionally, Australia topped the list for bedroom and laundry renovation queries.
Ahead of Australia were New Zealand (1st) and Singapore (2nd) while the Nordic nations of Sweden (4th) and Denmark (5th) rounded out the top five places respectively.
Having Australia on the top 5 list isn't really that surprising:
It had the fifth-highest search volume for “bathroom renovation” (20.68),
second-highest for “kitchen renovation” (16.85 per 100,000),
third-highest for “bedroom renovation” (0.42), plus
the highest search volume for “laundry renovation” (6.13 per 100,000).
From 2019 to 2021, Australians spent more and more on renovations, partly due to the Australian Government providing grants for renovations to help prop up the construction industry during the COVID-19 pandemic.
In 2019, Australians spent AU$ 8.5 billion, then AU$ 9.2 billion in 2020 and AU$ 12.3 billion in 2021,4 with an overall spending increase of 44.7% over those three years.
About Bryce YardneyBryce is a property development specialist, having successfully sourced, project managed and completed hundreds of development projects for Metropole’s clients, helping them create substantial wealth.