4 March 2024 | See disclaimer
From a major kitchen renovation to a minor bedroom update, there’s plenty to consider when looking at updating your home.
But home renovation costs can add up. This is why we wanted to explore how Aussies are updating their homes in 2024.
To get a better understanding of the home renovations of everyday Australians, we surveyed more than 1,000 homeowners aged 25 to 69 on their behaviours, attitudes and opinions on household renovations.
Quick Stats
- The kitchen and bathroom are the two most popular areas to renovate.
- Over 30% of respondents had a renovation budget between $5,000 and $15,000.
- The most common reason respondents renovated was to update the style of their property.
- Running into financial issues or unexpected costs was the number one barrier respondents faced during renovations.
Home Renovation Statistics
An increasing number of Australians spent money renovating their homes throughout 2023.
In the September quarter of 2023, Australians spent more than $3 billion on alterations and additions to their homes.
This was a 4.2% increase from the previous quarter and a 3% increase compared to the September 2022 quarter. [1]
How much does a home renovation cost in Australia?
The cost to renovate your home can change depending on the task at hand, your location and whether you choose to do any of it yourself.
According to Hipages, a home renovation could cost anywhere from $2,000 to over $70,000 for a single room.
As a rule of thumb, experts say you should spend no more than 10% of your home’s current market value on improvements overall. [2]
Estimated Cost and Time of Renovation
Room |
Estimated Cost |
Estimated Time |
|---|---|---|
Kitchen |
$10,000 - $45,000+ |
2-9 weeks |
Garden/deck |
$2,000 - $10,000+ |
1-2 weeks |
Bathroom |
$10,000 - $35,000+ |
1-3 weeks |
Living room |
$10,000 - $15,000+ |
<1 week |
Master bedroom |
$2,000 - $35,000+ |
<1 week |
Home Renovation Survey Results
To better understand how and what Australians are renovating, we surveyed more than 1,000 homeowners. Check out our findings below.
What rooms have you renovated or do you plan to renovate in your home?^
25-29 |
30-34 |
35-39 |
40-44 |
45-49 |
50-54 |
55-59 |
60-64 |
65-69 |
|
|---|---|---|---|---|---|---|---|---|---|
Bedroom |
48.8% |
44.8% |
43.7% |
39.1% |
33.0% |
36.2% |
27.2% |
26.5% |
27.5% |
Bathroom |
65.1% |
60.4% |
62.3% |
67.3% |
64.0% |
66.0% |
56.8% |
63.3% |
62.4% |
Kitchen |
67.4% |
59.4% |
63.6% |
62.7% |
70.0% |
62.8% |
61.7% |
64.3% |
59.6% |
Laundry |
32.6% |
36.5% |
41.7% |
38.2% |
37.0% |
34.0% |
33.3% |
33.7% |
34.9% |
Living room |
44.2% |
31.3% |
35.8% |
36.4% |
37.0% |
36.2% |
33.3% |
29.6% |
33.0% |
Home office/study |
16.3% |
21.9% |
15.2% |
19.1% |
18.0% |
16.0% |
14.8% |
9.2% |
12.8% |
Garage/carport |
27.9% |
12.5% |
22.5% |
20.9% |
21.0% |
20.2% |
9.9% |
17.4% |
12.8% |
Standalone toilet |
16.3% |
12.5% |
10.6% |
20.0% |
15.0% |
11.7% |
9.9% |
10.2% |
11.0% |
Yard/outdoor area |
34.9% |
37.5% |
36.4% |
44.6% |
39.0% |
48.9% |
44.4% |
40.8% |
44.0% |
Other |
0.0% |
0.0% |
0.0% |
0.9% |
3.0% |
3.2% |
3.7% |
1.0% |
7.3% |
^Participants could select all that applied. Percentages may not add up to 100%.
The kitchen and bathroom were the two most popular rooms to renovate, according to almost two-thirds of those surveyed.
This was followed by the yard and outdoor area, bedrooms and the laundry.
Those surveyed aged 25 to 29 were the most likely to say they had renovated or plan to renovate their bedroom, living room and garage. Meanwhile, 70% of those surveyed aged 45 to 49 said they renovated or planned to renovate their kitchen.
What’s your budget for your most recent renovation or future renovation?^
25-29 |
30-34 |
35-39 |
40-44 |
45-49 |
50-54 |
55-59 |
60-64 |
65-69 |
|
|---|---|---|---|---|---|---|---|---|---|
<$5,000 |
7.0% |
13.5% |
11.9% |
4.6% |
16.0% |
17.0% |
22.2% |
14.3% |
17.4% |
$5,000-$15,000 |
34.9% |
30.2% |
25.8% |
38.2% |
26.0% |
21.3% |
27.2% |
39.8% |
33.9% |
$15,000-$30,000 |
20.9% |
28.1% |
29.8% |
21.8% |
19.0% |
27.7% |
16.1% |
21.4% |
23.9% |
$30,000-$50,000 |
16.3% |
10.4% |
15.9% |
14.6% |
23.0% |
14.9% |
13.6% |
10.2% |
14.7% |
$50,000-$100,000 |
16.3% |
10.4% |
8.6% |
15.5% |
12.0% |
12.8% |
16.1% |
11.2% |
5.5% |
>$100,000 |
4.7% |
7.3% |
8.0% |
5.5% |
4.0% |
6.4% |
4.9% |
3.1% |
4.6% |
^Due to how the figures are rounded within the survey data, numbers may not add up to exactly 100%.
Over 30% of respondents said their renovation budget was between $5,000 and $15,000. Meanwhile, nearly a quarter of those surveyed said their budget was between $15,000 and $30,000.
Those surveyed in New South Wales and Victoria were more likely to have a renovation budget of over $100,000, while those in Western Australia were more likely to have a budget of under $5,000.
The majority of respondents aged 30 to 34 and the majority of those aged 50 to 54 had a renovation budget between $15,000 and $30,000. Meanwhile, 8% of respondents aged 35 to 39 had a budget over $100,000.
Have you ever taken out a loan for a renovation?^
^Due to how the figures are rounded within the survey data, numbers may not add up to exactly 100%.
More than 80% of those surveyed said they had never taken out a loan to complete a renovation.
Of those aged 25 to 29 who were surveyed, 30.2% said they had taken out a loan for their renovations. This was much higher than any other age group surveyed.
Those surveyed in South Australia and New South Wales were the most likely to take out a loan for their renovation, according to around one in five respondents surveyed.
Male respondents were more likely than female respondents to take out a loan for their renovations, with 20.7% of men saying they did this compared to 16.5% of women.
Have you ever had to put your renovation plans on hold for financial reasons?^
^Due to how the figures are rounded within the survey data, numbers may not add up to exactly 100%.
Almost 60% of those surveyed have had to put their renovations on hold for financial reasons.
Western Australian respondents were the most likely to say this, with 61.7% saying they had to put their plans on hold due to money.
Women were more likely than men to have paused renovations for financial reasons, according to 65.6% of women surveyed and 50% of men surveyed.
Meanwhile, those aged 45 to 49 were the most likely to pause renovations due to financial reasons, according to 78% of those surveyed.
What’s the main reason you chose to renovate your home?^
Rank |
Reason |
Percentage |
|---|---|---|
1st |
To update the style |
29.7% |
2nd |
To improve comfort |
24.7% |
3rd |
To increase property value |
15.3% |
4th |
To create more space |
11.1% |
5th |
To restore features |
6.7% |
6th |
To fix a safety issue |
5.0% |
7th |
Cheaper than buying a new home |
4.0% |
8th |
To improve sustainability |
2.5% |
9th |
Other |
1.0% |
25-29 |
30-34 |
35-39 |
40-44 |
45-49 |
50-54 |
55-59 |
60-64 |
65-69 |
|
|---|---|---|---|---|---|---|---|---|---|
To increase property value |
27.9% |
15.6% |
12.6% |
14.6% |
19.0% |
14.9% |
17.3% |
17.4% |
11.9% |
To improve comfort |
23.3% |
21.9% |
29.8% |
26.4% |
16.0% |
20.2% |
18.5% |
33.7% |
19.3% |
Cheaper than buying a new home |
7.0% |
3.1% |
4.0% |
3.6% |
2.0% |
2.1% |
4.9% |
2.0% |
8.3% |
To fix a safety issue |
4.7% |
5.2% |
6.0% |
6.4% |
0.0% |
5.3% |
2.5% |
5.1% |
5.5% |
To update the style |
27.9% |
26.0% |
26.5% |
22.7% |
36.0% |
35.1% |
38.3% |
27.6% |
35.8% |
To create more space |
7.0% |
17.7% |
13.3% |
18.2% |
14.0% |
9.6% |
8.6% |
4.1% |
8.3% |
To improve sustainability |
0.0% |
2.1% |
2.7% |
0.9% |
4.0% |
2.1% |
1.2% |
1.0% |
5.5% |
To restore features |
2.3% |
6.3% |
5.3% |
7.3% |
8.0% |
8.5% |
7.4% |
7.1% |
4.6% |
Other |
0.0% |
2.1% |
0.0% |
0.0% |
1.0% |
2.1% |
1.2% |
2.0% |
0.9% |
^Due to how the figures are rounded within the survey data, numbers may not add up to exactly 100%.
The top reason those surveyed chose to renovate was to update the style of the property. This was closely followed by renovating to improve comfort.
One in five respondents in Queensland said they renovated to increase property value.
Male respondents were more likely than female respondents to say they renovated their homes to increase property value or improve comfort.
Meanwhile, female respondents were more likely than male respondents to renovate their homes to update the style or fix a safety issue.
Those aged 25 to 29 were the most likely respondents to say they renovated to increase property value.
Do you plan on doing or have you done any renovations yourself?^
^Due to how the figures are rounded within the survey data, numbers may not add up to exactly 100%.
More than half of those surveyed said they planned on doing some of the renovations themselves.
DIY renovations were most popular in New South Wales and South Australia, according to around 60% of respondents.
Meanwhile, younger respondents were the most likely to do their own renovations, according to almost 80% of those surveyed aged 25 to 29.
How long did your last renovations take or how long do you expect your future renovations to take?^
25-29 |
30-34 |
35-39 |
40-44 |
45-49 |
50-54 |
55-59 |
60-64 |
65-69 |
|
|---|---|---|---|---|---|---|---|---|---|
<3 months |
30.2% |
35.4% |
37.8% |
35.5% |
39.0% |
45.7% |
50.6% |
50.0% |
47.7% |
3-6 months |
27.9% |
38.5% |
29.1% |
35.5% |
26.0% |
21.3% |
24.7% |
28.6% |
22.0% |
6-12 months |
27.9% |
11.5% |
22.5% |
17.3% |
18.0% |
17.0% |
13.6% |
11.2% |
12.8% |
>12 months |
14.0% |
11.5% |
6.6% |
6.4% |
7.0% |
7.5% |
3.7% |
5.1% |
3.7% |
Not sure |
0.0% |
3.1% |
4.0% |
5.5% |
10.0% |
8.5% |
7.4% |
5.1% |
13.8% |
^Due to how the figures are rounded within the survey data, numbers may not add up to exactly 100%.
Most of those surveyed said renovations generally took less than three months.
Renovations took the longest time in South Australia where 14% of respondents said they took more than twelve months. Meanwhile, one in five respondents from Victoria said it took them six to twelve months.
Male respondents were slightly more likely than female respondents to finish renovations or plan to finish renovations in less than three months.
Meanwhile, older respondents were more likely to get the job done quicker when it came to renovating their homes. Half of those surveyed aged 55 to 69 said they did their renovations or would have their renovations done in less than three months. This was compared to less than a third of respondents aged 25 to 29 who had the same response.
If you have already renovated, did you face any of the below barriers?^
Rank |
Reason |
Percentage |
|---|---|---|
1st |
Financial issues/unexpected costs |
72.7% |
2nd |
Lack of time |
57.8% |
3rd |
Issues with contractors |
50.6% |
4th |
Weather-related delays |
46.3% |
5th |
Unforeseen issues with existing infrastructure |
45.4% |
6th |
There were no barriers |
35.7% |
7th |
Poor planning |
21.1% |
8th |
Expanding the scope midway |
20.3% |
9th |
Delays with permits |
18.4% |
10th |
Other |
5.8% |
25-29 |
30-34 |
35-39 |
40-44 |
45-49 |
50-54 |
55-59 |
60-64 |
65-69 |
|
|---|---|---|---|---|---|---|---|---|---|
Contractors issues |
16.3% |
20.8% |
21.2% |
20.9% |
15.0% |
23.4% |
16.1% |
17.4% |
23.9% |
Financial issues |
41.9% |
31.3% |
41.1% |
33.6% |
45.0% |
24.5% |
22.2% |
19.4% |
20.2% |
Weather delays |
11.6% |
22.9% |
17.2% |
20.0% |
14.0% |
17.0% |
14.8% |
17.4% |
18.4% |
Existing building issues |
18.6% |
15.6% |
17.9% |
13.6% |
16.0% |
17.0% |
17.3% |
22.5% |
15.6% |
Poor planning |
16.3% |
7.3% |
11.9% |
8.2% |
4.0% |
5.3% |
4.9% |
1.0% |
3.7% |
Expanding scope |
7.0% |
5.2% |
10.6% |
11.8% |
2.0% |
7.5% |
8.6% |
2.0% |
4.6% |
Lack of time |
37.2% |
32.3% |
38.4% |
30.0% |
28.0% |
20.2% |
14.8% |
12.2% |
11.9% |
Permit delays |
11.6% |
5.2% |
8.0% |
5.5% |
4.0% |
4.3% |
6.2% |
7.1% |
2.8% |
Other |
4.7% |
4.2% |
4.6% |
6.4% |
1.0% |
4.3% |
2.5% |
5.1% |
2.8% |
No barriers |
27.9% |
28.1% |
23.8% |
29.1% |
25.0% |
35.1% |
44.4% |
42.9% |
43.1% |
^Due to how the figures are rounded within the survey data, numbers may not add up to exactly 100%.
Running into financial issues or unexpected costs was the number one barrier respondents said they faced during renovations, according to almost three-quarters of respondents.
A lack of time and issues with contractors were the two next most popular responses from respondents. Meanwhile, 35.7% of respondents said there were no barriers during the process.
Weather-related delays were more likely in Queensland with 20.6% of respondents saying this was a common barrier in renovations, while those in New South Wales and Victoria were the most likely to say there were delays with permits.
Those in Western Australia were the least likely to have any barriers, according to 40.4% of respondents.
Female respondents were more likely than male respondents to run into financial issues or unexpected costs, with 32% of women saying this was a barrier compared to 17.1% of men.
Those aged 25 to 29 were the most likely to say poor planning impacted their renovations. Meanwhile, those aged 65 to 69 who were surveyed were the most likely to say there were issues with contractors.
Factors to Consider When Renovating
Deciding whether a renovation is a worthwhile investment can be a big choice. While high-end renovation costs can be high, there can also be budget-friendly ways to achieve a similar look and feel.
Whether you want to save money on renovation costs or you just want to be more specific with your budget, there are several factors to consider.
Kitchen Renovation
With so many inspiring kitchen renovations out there, it can be easy to get ahead of yourself when planning your own.
If your grand plans involve features such as a modern kitchen island or high-end kitchen cabinetry, be prepared to pay more.
However, if you’re looking to keep the kitchen renovation cost within a budget, here are some things to consider:
- Whether you're installing kitchen cabinets, replacing cabinet doors or simply doing a quick fix on existing cabinets, you may have to adjust your budget.
- The price could also hike if the kitchen remodel involves custom designs from kitchen designers.
- Depending on whether you decide between using cheaper or more expensive materials for benchtops (engineered stone, natural stone, laminate, granite etc.) you may have to adjust your budget.
- The same can be said for the flooring options you decide on and whether you choose something more expensive that may last longer.
- The budget will also need to work around whether or not gas needs to be installed.
Living Room or Dining Room
Renovating the living room or dining room might be one of the cheaper options, depending on how you go about it.
You could spend extra money on high-quality material. However, you can also find a more economical material that can also last without breaking your budget.
Saving costs could even be as easy as choosing open shelves over other cabinetry options when it comes to storage space.
The layout of the room is also key. For instance, think about whether you prefer natural light over task lighting when relaxing in the living room and use this when deciding on how to organise the area.
Bathroom
When it comes to bathroom renovations, there are plenty of ways to use your spending money. Renovating the bathroom on a small budget can be possible, but it requires some thought and attention.
For instance, it will cost a lot if you plan on making major structural changes that will require plumbing, tiling and electrical wiring to be moved.
But if you keep the renovations largely cosmetic and focus on implementing new appliances such as taps and shower heads without changing the structure, you might save a pretty penny.
Key Takeaways
The What, Why and How of Renovating
The kitchen and bathroom were the two most popular rooms for respondents to renovate, followed by the yard and outdoor area, bedrooms and laundry.
The top reason respondents chose to renovate was to update the style of the property. This was closely followed by renovating to improve comfort.
The majority of respondents said they had done or planned to do some of their renovations themselves.
DIY renovations were most popular among younger respondents with almost 80% of those surveyed aged 25 to 29 saying they would do or have done their renovations themselves.
Aussies Facing Financial Barriers
Almost 60% of Australians surveyed said they had to put their renovations on hold for financial reasons. This included 78% of those surveyed aged 45 to 49.
Meanwhile, running into financial issues or unexpected costs was the number one barrier faced by those surveyed during their renovations, according to almost three-quarters of respondents.
Over 30% of those surveyed said their budget for their renovations was between $5,000 and $15,000.
Money and Gender
Male respondents were more likely to take out a loan for their renovations than female respondents.
However, female respondents were more likely to pause their renovations for financial reasons than men were.
We also found that female respondents were more likely to run into financial issues or unexpected costs during their renovations when compared to men.
