The Housing Industry Association has launched the HIA-GWA Kitchens and Bathroom Report for 2016/17.
The installation and renovation of kitchens and bathrooms is a huge industry in Australia.
“The installation of new kitchens and bathrooms in Australia is worth $11 billion a year alone," said HIA Chief Economist, Dr Harley Dale, even before including the "vibrant" renovations market.
The boom in the construction of new homes has boosted the kitchen and bathroom industry, said Dale.
“It has been a strong four years for new kitchen and bathroom installations in particular,” he said, adding that the HIA expects there to be around 637,000 new installations in 2016/17.
As the construction of new homes eases off, Dale said the renovations market will shift up a gear.
“As new home building activity begins to ease back from this year, the baton of growth is projected to pass to the renovations side of the kitchens and bathrooms sector," he said, adding that kitchen and bathroom renovations are already near the top of Australians’ preferred renovation jobs.
The positive outlook for the kitchens and bathroom sector is good news "not only for the sector itself but also for the broader domestic economy,” concluded Dale.
How to get the most 'bang' from your renovations 'buck'
A revolution at home: the robotic kitchen
Decks and bathrooms top list of renovations