Home renovations blog: Increasing Australian pride in homes leading to more renovation

By the resi financial blog team, 28 July 2014

Renovating is popular in Australia

If you're interested in undertaking some renovations around your home, you're definitely not alone. In fact, a new report from Roy Morgan Research has found more than one in every three Australians have the motive to redo their property's interior, with the number of individuals expressing a keen interest in home decoration and design rising by over 20 per cent since 2010. This includes an additional million people over the last two years alone. 

In the report, over 6.8 million Australians (34 per cent) said they agreed with the statement "I keep up-to-date with new ideas to improve my home", as opposed to only 5.7 million back in March 2010. One of the reasons given for this growth is the increasing popularity of reality television shows like Channel Nine's The Block, ABC's Grand Designs and Better Homes & Gardens on Seven, which have all inspired homeowners across the nation. 

Furthermore, home design magazines have seen a jump in popularity as well, with five of the largest publications in the industry - Home Beautiful, Country Style, Real Living, Inside Out and Home Design - collectively increasing their readership by 259,000 people since 2010. This works out to an individual growth ranging from 23 per cent up to a huge 41 per cent. 

Roy Morgan Research's General Manager of Media Tim Martin said this appetite for renovation is being reflected in the television and magazines being consumed by the nation, and vice versa. 

"Home and Garden magazine readers are not only often the first to update their home interiors (59 per cent more likely than the general population) they are also hammering out their advice to family and friends on decorating ideas for the home (54 per cent more likely)," said Mr Martin in a July 21 statement. 

With the rising amount of advice coming through the media, now could be the perfect time to begin researching your own renovation ideas and get in contact with a finance provider to aid the development. 

Categories: Home Loans, Personal Finance