The Housing Industry Association (HIA) has released its annual Kitchens and Bathrooms Report, forecasting both kitchen and bathroom installations to increase in 2012/13.
The Past Growth and Future Prospects report provides an overview of opportunities, attitudes, and forecasts for the residential construction industry.
Kitchens
The HIA found that in 2011/12 the total number of kitchen installations in new homes fell by 9.6 per cent, just under their forecasted 10.4 per cent decline.
The number of kitchen installations is forecast to increase by 2.6 per cent in 2012/13 to a level of 145,900. A flat year is forecast for 2013/14, followed by growth of 4.9 per cent in 2014/15.
The total value of kitchen installations in new homes was $2.79 billion in 2011/12, an easing of 0.4 per cent compared to the previous year. The total value is forecast to fall by 4.5 per cent this financial year. Growth of 2.5 per cent in 2013/14 and 5.9 per cent in 2014/15 is forecast to take the total value to a record $2.89 billion.
The survey found an average value for a new kitchen in 2011/12 of $17,695, close to an average value for a kitchen renovation of $17,629.
More than a third of respondents (37 per cent) to the survey reported the average age of a renovated kitchen fell in the range of 11 to 15 years, with a further 36 per cent of respondents stating a range of 16 to 20 years. The largest response rate until this year was always the 16 to 20 year range.
Bathrooms
The total number of bathroom installations in new homes is forecast to increase by 2.6 per cent in 2012/13 to 277,300.
Following a flat year in 2013/14, an increase of 4.9 per cent is forecast for 2014/15, taking the total number of new bathroom installations to 291,100.
The total value of bathroom installations in new homes was $3.62 billion in 2011/12, a decline of 2.8 per cent on the previous year. The total value is forecast to fall by 3.7 per cent in 2012/13. Consecutive years of growth in 2013/14 (2.8 per cent) and 2014/15 (5.9 per cent) is forecast to take the total value to a record $3.79 billion.
The HIA estimates that in 2012/13 there is the potential for around 219,200 bathroom renovations.
The average value for a new bathroom in 2011/12 was $13,183, the average value for a bathroom renovation $14,856.
In terms of the frequency of updating a bathroom, 37 per cent of survey respondents reported the average age of a renovated bathroom as falling in the range of 11 to 15 years, with a further 32 per cent of respondents stating a range of 16 to 20 years.
Image: Hettich products