The Demand For Renovation Is High
Australia will see continued interest in home renovations. According to the Housing Industry Association (HIA), there should be renewed interest over home renovation spending meaning a higher demand for tradespeople and other supplies. (Source: sbs.com.au)
“We’re starting to see indications in the 2015/16 year of a situation where consumers are perhaps willing to spend a little bit more on renovations activity, and that’s a key driver in itself for demand of tradespeople and wider employment, manufacturing and suppliers, retail goods,” claimed HIA Chief Economist Harley Dale via SBS.
The report also highlighted the areas where more home-owners and buyers were spending their renovation dollars. Some of the top features revolved around lifestyle type improvements like:
Cool and comfortable space:
In a survey from finder.com.au, consumer advocate Bessie Hassan, said that the air conditioning is at the top of the list for buyers. According to the survey results around 65% of respondents identified air conditioning is a must for their homes.
“Three in four households today do have air conditioning, (which) indicates that Aussies clearly place importance on keeping cool and comfortable in a warm climate,” Hassan said.
This provides good insightful information especially if you are planning on selling your home – knowing that air-conditioning is an important desire for most Aussie home-buyers.
Outdoor Features and Entertainment
Water features and built-in barbecues were also part of the list. You may want to ask your plumber to ensure your house waterworks are fine before selling. Some 23% of the responders also said that a swimming pool is important. The younger generation wants their space for fun and relaxation more than the baby boomers.
Knowing what prospective home-buyers desire can help you plan home improvement projects that can add value and guarantee a successful sale.
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