No place like home for many in WA

TWO-THIRDS of Western Australians intend to either buy a new home, or renovate, within the next 12 months, according to new survey details released by the Housing Industry Association. Despite this confidence, however, affordability is confirmed as the main barrier for those not currently considering buying a new home. The survey of more than 2,300 people across Western Australia revealed the following intentions. • A healthy optimism towards housing and renovation – 35 per cent have or intend to buy a brand new home over the next year. This is well above the national average of 29 per cent. • A further 36 per cent of households surveyed have or intend to renovate their home over the next year. • Of the 23 per cent surveyed from WA who intend to buy a new home over the next year, 74 per cent intend to live in it while 26 per cent intend to purchase it as an investment property. • The average cost of renovations is expected to be between $10,000 and $20,000. • Of those intending to renovate, 56 per cent will be repainting. Other popular jobs were general repairs, landscaping, kitchen and bathroom makeovers. • Many renovators considered between three and five builders before making a decision.