FEATURE
THE RETROFIT ISSUE
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seasons and more than 650 episodes
of The Block will testify. So it’s not
all bad news.
The Australian Bureau of Statistics
says private investment in alterations
and additions increased to $9.9bn in
the September 2018 quarter – a
year-on-year increase of 11%. The
Master Builders Association,
meanwhile, says the home reno
market hit a 14-year high in 2018.
And while there’s been a credit
crunch, the dollars we are investing
into our own homes is still
significant – the Housing Industry
Association says 30% of Australians
spend between $70,000 and
$200,000 on home renovations.
AN INCREASING NUMBER OF HOME-
OWNERS IN AUSTRALIA ARE STAYING
PUT AND IMPROVING, RATHER THAN
PACKING UP AND MOVING. YOU DON’T
NEED TO KNOCK DOWN WALLS TO
MAKE A BIG IMPACT – SUBTLE UPGRADES
CAN MAKE A HUGE DIFFERENCE.
SO GET SET – IT’S RETROFIT TIME!
T
he Australian appetite
for home improvements
is at an all-time high –
partly due to an innate desire we
have to improve what we own,
and partly due to the issues we’ve
all read about regarding the
Royal Commission into banking.
With the banks tightening
access to credit, the housing
market’s taking a dip in many
parts of the country, because
there’s not as many people
actively looking to buy. And
consequently the prospect of
staying put, and using savings
and/or equity to update and
improve our homes is
increasingly appealing.
AREA OF OPPORTUNITY
As luck would have it, in Australia
we love a good home
improvement anyway – as 14
RETROFITTING FOR TOMORROW
So, home improvements – whether
it’s some quick additions or bigger
jobs such as new bathrooms or
kitchens – are increasingly big
business.
And, as a contractor, that of
course means increased
opportunities for work – and it also
means opportunities to help your
customers get the very best outcome
for their homes.
So in this issue, we’re turning our
attention to the things you need to
know to have quality conversations
with residential customers about
getting the best possible result from
their home improvements.
We’ll be looking at the latest
developments in retrofit products,
and shedding some light on how you
can get some of those bigger
domestic jobs in the first place. We’ll
be talking to an architect about how
architects and electricians can work
in tandem from the outset to get the
best possible outcome for the client,
and also explore the practicalities of
working on outdoor jobs, including
pools, spas and studios.
By arming yourself with ideas
above and beyond the brief, you can
add the knowledge and insight that
take a project from good to great – as
well as catering for tomorrow’s
needs. All of which can make a
lasting, and very positive, impact on
your business.
WHAT’S IT
WORTH?
THE AVERAGE COST
OF SOME OF THE
MORE POPULAR HOME
IMPROVEMENT JOBS:*.
BATHROOM:
$20,666
KITCHEN:
$36,666
TV TREATS
WE LOVE A GOOD HOME IMPROVEMENT TV
PROGRAM. HERE ARE OUR THREE FAVOURITES
TO GET YOU IN THE DOMESTIC MINDSET.
LOVE IT OR LIST IT
This show gets
you firmly in
the mindset of
the home-
owner. Andrew
Winter and
Neale
Whitaker do battle. The
latter trying to prove the
current home with a few
alterations can be a
long-termer, and the
former trying to find the
perfect new home. Watch
out for the little things that
make a big difference.
THE BLOCK
LAUNDRY:
$17,550
The long-running show is
a firm Australian favourite,
where duos battle it out
to be crowned The Block
winner. If your customers
are renovating with the
intention of
increasing
value and
selling on,
then this is
for you. Each
week, a challenge is set
and contestants are
eliminated as they go.
They end up renovating
a property, and winning
whatever it sells for at
auction. The biggest
winners so far have been
Dea and Darren in
season 10, when their
South Yarra apartment
sold for $935,000.
GRAND
DESIGNS
Sometimes,
some
customers’
ideas are
firmly ‘out there’, and
have you thinking ‘WHAT
ARE YOU DOING?!’
Similarly, Grand Designs
often features some more
unusual ideas. This show
gives great insight into
the realities of
homeowners managing
their projects, and the
realities of running over
time and over budget.
HOW THE ROYAL COMMISSION IS
AFFECTING THE HOUSING MARKET
LIVING ROOM:
$15,795
In a nutshell... Access to credit is being tightened,
meaning there are fewer home buyers out there
who are pre-approved, or likely to be approved.
Fewer buyers equals less competition for purchases,
meaning falling prices and a slower market.
MASTER
BEDROOM:
$26,325
*Source: Finder.com.au
14 GEMCELL.COM.AU APR – MAY 2019
APR – MAY 2019 GEMCELL.COM.AU
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