A who's who of Australian surfing, business and entertainment has emerged on title records following the completion of Esprit Rainbow Bay, the latest boutique beachfront apartment development by former professional surfer Paul Gedoun's S&amp;S Projects.

The completed project has attracted an enviable collection of owners, many with long-standing ties to the southern Gold Coast and the surf culture that has helped define Rainbow Bay and neighbouring Kirra for generations.

Given Gedoun's own background in surfing, it perhaps comes as little surprise that some of Australia's most recognisable surfers have chosen to buy into the development overlooking one of the country's most celebrated stretches of coastline.

Pezet Matheson directors Jayde Pezet and Todd Matheson launched the project in late 2021, and have managed the sales campaign all the way through to its sell-out and recent completion.

<img alt="Esprit" data-entity-type="file" data-entity-uuid="08fc6261-b84e-4b09-8a44-66d3067fd0d1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-29%20at%208.51.05%E2%80%AFAM.png?VersionId=4AOcb6ETZwNUnMPdTtz1B3pZAIB_jgZ2" />

Former world champion Mick Fanning, who grew up in Coolangatta, secured an apartment in 2023. He paid&nbsp;$2.07 million. Last year he sold his Bilinga home for over $16 million.

Three-time world champion Joel Parkinson also purchased in the development, alongside big wave surfer Mark Mathews. Mathews bought the most expensive apartment in the building, spending just over $4 million.

Joining them is Rip Curl founder Doug Warbrick, whose company helped shape Australia's global surfing industry over the past five decades.

The appeal of Rainbow Bay has extended well beyond the surfing community.

International DJ Paul Fisher purchased an apartment through his investment vehicle, YLB Developments, an abbreviation of his trademark phrase "You Little Beauty".

The purchase comes as Fisher and his wife Chloe are developing their own luxury apartment project further north in Palm Beach. Their boutique beachfront development, Pescado, comprises just seven apartments on Jefferson Lane, which start from just shy of $6 million. The couple intend to retain the two-level penthouse as their Australian base between international touring commitments.

Melbourne Storm coach Craig Bellamy and his wife Wendy have also invested in Esprit, purchasing two apartments after spending decades holidaying on the southern Gold Coast. They also have a luxury apartment in Joe Adsett's Rockpool, less than 400m away from Esprit.

<h2>Boutique project draws owner-occupiers</h2>

Esprit launched in 2021 and sold strongly, with buyers drawn to its boutique scale, beachfront position and contemporary design.

The completed development comprises 94 apartments across 11 levels, offering expansive floorplans designed primarily for owner-occupiers rather than the investor market.

Crowning the building is Club Esprit, pitched as being the Gold Coast's first residential rooftop wellness centre. The roof features a&nbsp;25 metre magnesium lap pool, which is surrounded by wet daybeds and poolside cabanas,&nbsp;multiple barbecue areas,&nbsp;a yoga and relaxation play lawn, and a private dining room with a kitchen scullery, bar, lounges, and an outdoor terrace.

The wellness centre is&nbsp;fully equipped with a Technogym, ice bath, infra-red sauna, steam room, thermal room, and treatment room. The roof has views spanning&nbsp;Rainbow Bay, Snapper Rocks and the Pacific Ocean.

<h2>S&amp;S Projects continues to shape Rainbow Bay</h2>

S&amp;S Projects founder Paul Gedoun has become one of the key figures behind Rainbow Bay's evolution over the past several years.

After establishing S&amp;S Projects, Gedoun has focused on delivering lifestyle-driven apartment developments designed primarily for owner-occupiers seeking a permanent coastal home.

Esprit is Gedoun's third completed project in Rainbow Bay, following Flow and Awaken, both of which achieved record prices for the suburb.

He is now delivering <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, a 38-apartment development on Boundary Street that is currently selling, and has no plans to leave the precinct anytime soon. S&amp;S Projects has also lodged plans for its fifth Rainbow Bay development, an 88-apartment project on Boundary Street featuring a strong wellness focus.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">First look: S&amp;S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street</a>

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Joel Robinson

Who's who of buyers revealed as Esprit Rainbow Bay settles

Nature Based Cities (NBC), the not-for-profit organisation focused on improving biodiversity and nature outcomes in urban development, has launched its latest industry design guidelines and accreditation framework, this time targeting precinct-scale residential communities.

The move extends NBC’s influence beyond its initial focus on medium and high-density residential developments. Several projects have already achieved NBC accreditation since the launch of its Medium &amp; High-Density Residential Guidelines in early 2025.

The expansion into masterplanned communities and new residential precincts reflects the growing need for stronger nature-positive benchmarks as Australia’s outer suburban growth corridors continue to expand at pace.

Paul Hameister OAM, NBC Founder and the Executive Chairman of Melbourne developer Hamton who itself leans heavily into nature and biodiversity in its developments, says the&nbsp;nature-first approach to mitigate the effects of climate change has become standard in other parts of the world such as the UK, but Australia is lagging.&nbsp;Australia’s environmentally sustainable design (ESD) rating tools have no minimum mandatory requirements for living landscapes.

“We’ve always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren’t there,” Hameister says. “In Australia, you can have a five-green-star rated building that’s concrete and glass with not a blade of grass. 
 
“The focus is on reducing emissions, which is laudable, but there hasn’t been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities.”

He says that having now&nbsp;made good progress in supporting developers of medium and high-density residential projects, NBC is now looking to bolster better nature-based decision-making and recognise developers of greenfield projects in the outer ring and large inner-ring brownfield precincts, who want to champion nature and living landscape as a defining feature.

Since 2022, the not-for-profit has sought to remove the roadblocks preventing developers from incorporating nature and living landscapes into their projects, shifting the conversation from the reduction of emissions and grey infrastructure, toward recognising nature as an essential infrastructure.

The New Communities Design Guidelines and Scorecard arm developers with the tools needed to deliver a nature positive outcome for their new communities. Intended to be adopted at the outset of the planning process, the guidelines are designed to help create communities that are cooler, healthier and more resilient while also enhancing social wellbeing and long-term economic value.&nbsp;

New Communities developers seeking accreditation will be independently assessed across a range of key criteria including ecology, tree canopy, biodiversity, and walkability. Once the masterplan is complete and submitted for approval, the scorecard is formalised based on proposed outcomes. Projects that meet the NBC criteria will receive either Commended or Exemplary accreditation outcomes, creating a clear benchmark for nature-positive new communities in Australia.&nbsp;

Janis Fischer, Director at Tract and NBC Advisory Council member, said the development of new communities in our suburbs can have a substantial impact on nature and biodiversity.

"By incorporating nature-based design principles at the inception of a project, developers and their design teams can achieve nature positive outcomes that are good for both people and the planet.’’&nbsp;

NBC accredited New Community projects will gain access to NBC branding and marketing tools to help communicate their nature-based credentials to purchasers and the broader market.&nbsp;

Nature Based Cities: A new Australian benchmark for developing nature-positive new communities

Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.

For buyers, that shift is showing up in practical inclusions that respond to changing habits. Work-from-home spaces, EV charging, wellness amenities, secure bike storage and parcel management are becoming part of the broader apartment conversation, reflecting a move toward buildings that reduce friction in everyday life.

Online shopping has become one of the clearest examples of that change.

Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online. That has made parcel delivery a regular part of apartment living, rather than an occasional inconvenience.

For apartment residents, however, the delivery process can be less straightforward than it is for detached homes. Parcels may be left in lobbies, redirected to Post Offices, missed entirely, or placed under the responsibility of building managers and concierge teams.

That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/-VjjLwoViX0?si=A3k7ws9NX35Uac7_" title="YouTube video player" width="560"></iframe>

Australia Post Parcel Lockers offer one way to address the issue. When a parcel arrives, residents receive a notification through the AusPost app or SMS, then collect it using a QR code or one-time PIN. The parcel is kept secure, accessible and removed from common areas.

The broader Parcel Locker network now includes more than 1,500 locations across Australia, positioned at Post Offices, shopping centres, supermarkets, transport hubs and other accessible locations.

For new apartment projects, the relevance is clear. A building’s amenity offering is no longer only about lifestyle spaces, but also about convenience, security and functionality.

As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.

It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.

Apartment design is adapting to the way Australians shop

While school holidays and trips to Europe tend to define the winter property market, there's been no cold snap at <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> in North Sydney.

Developer-builder&nbsp;<a href="https://www.apartments.com.au/developers/aland">ALAND</a> sold more than $35 million worth of apartments throughout June, including a $6.8 million apartment that now ranks among the highest apartment sales ever recorded in North Sydney.

SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.

"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.

"Many recognise the opportunity to secure an apartment in an iconic building and premium location while values remain attractive. They may initially lease the property, but the intention is to eventually move in themselves, rather than purchasing purely as an investment."

[smartcode_project:default project_id=134323 project_image_fid=367129]

Located at 177 Walker Street, The Walden will deliver 161 one, two, three and four-bedroom residences across a 30-storey tower designed by Rothelowman. Every apartment occupies a corner position, maximising natural light, cross ventilation and views across Sydney Harbour, the Opera House, Sydney Heads and the northern districts.

Rather than a traditional balcony, the residences feature winter gardens that seamlessly extend the open plan living areas, creating versatile spaces for relaxing or entertaining throughout the year. Floor-to-ceiling glazing draws in natural light while showcasing sweeping views from the building's elevated Walker Street position.

Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.

The larger residences have been planned with distinct entertaining and private zones, with many master suites positioned on corners to capture natural light and harbour views. Walk-in dressing rooms, freestanding baths and refined stone finishes reinforce the house-like feel that has resonated with downsizers and owner-occupiers.

[smartcode_project:default project_id=134323 project_image_fid=6393]

Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.

"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.

"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."

Residents will also have exclusive access to The Pavilion, a dedicated amenity building featuring a rooftop pool, wellness studio, gymnasium, sauna, concierge service, residents' lounge, private dining spaces and work-from-home facilities.

[smartcode_project:default project_id=134323 project_image_fid=6402]

The project marks ALAND's first major luxury apartment development in Sydney's inner-city market after more than two decades delivering residential communities across Greater Sydney.

Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.

"This is a rare opportunity to bring a truly exceptional project to life in one of Sydney's most iconic locations, and to showcase our craftsmanship and design expertise at a world-class level," Hrsto said.

[smartcode_project:default project_id=134323 project_image_fid=6383]

The Walden has been introduced to the market at a time when demand for living in North Sydney is at an all-time high. Billions of dollars have been invested in infrastructure, including the recently opened Victoria Cross Metro station, located just 300 metres from The Walden, providing residents with direct access to the Sydney CBD in just minutes.

Private investment has also transformed the area through the arrival of new retail and dining destinations, elevating the lifestyle offering in what was once considered primarily a commercial precinct rather than an aspirational residential address.

The Walden is currently under construction and is scheduled for completion in 2028.

[smartcode_project_cta:default project_id=134323]

ALAND records $35 million in sales in North Sydney as The Walden bucks quiet winter selling season

The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.

The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.

The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" />

&nbsp;

Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.

At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."

"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."

"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."

The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.

The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.

Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

Houzz

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Home owners are always on the lookout for ways to increase the value of their homes, and 2018 has been a big one for the renovation industry, says a new survey.
According to the annual Houzz &amp; Home Australia survey 57% of home owners on the platform are planning to renovate their home.
<a href="https://www.propertyobserver.com.au/images/2018/10/4/renovation%201.jpg" target="_blank">Click here to enlarge:</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/4/renovation%201.jpg" alt="">
In 2017, over 50% of home owners renovated their homes at a median spend of $25,000.
Repeat home buyers invested the most in home renovations at a median spend of $30,000.
More than a quarter of renovating home owners tackling kitchens (26%), the top target for interior renovation, with a median spend of $20,000 for a large kitchen (more than 10 square metres).
Living/family rooms, bedrooms, master bathrooms and laundries (24, 18, 18 and 17% respectively) followed on the priority list.
<a href="https://www.propertyobserver.com.au/images/2018/10/4/renovation%202.jpg" target="_blank">Click here to enlarge:</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/4/renovation%202.jpg" alt="">
Houzz principal economist Nino Sitchinava said the survey results were a strong signal for the industry.
"All of the evidence from our research points to 2018 likely being another robust year for the home improvement industry,” says Sitchinava.
“Recent buyers and long-term homeowners alike are keen on investing in major projects like kitchens and bathrooms and they’re validated by the value these projects have brought to their homes."
<a href="https://www.propertyobserver.com.au/images/2018/10/4/renovation%203.jpg" target="_blank">Click here to enlarge:</a> <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/4/renovation%203.jpg" alt="">
The report’s other conclusions include:
<ul>
<li>More Deliberate Planning and Budgeting: Over the past two years, homeowners have become more deliberate in planning and budgeting for renovations and were seven percent more likely to set a budget in 2017 than in 2015 (74 and 67%, respectively).</li>
<li>Plumbing and Electrical Top System Upgrades: Homeowners prioritised plumbing and electrical over any other system during renovations (32 and 31%, respectively). First-time home buyers are twice as likely to upgrade electrical systems during renovations as long-term homeowners (52 versus 25%, respectively).</li>
<li>Home Professionals in High Demand: Over nine in 10 renovating homeowners chose to hire a home professional for renovation needs (92%). Repeat home buyers are the most likely to seek professional assistance (94%), followed by long-term homeowners and first-time home buyers 89 and 88%, respectively). </li>
</ul>
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j.ballantyne1990-6AQqhLzZaK

Home owners continue to look for renovation benefits

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Recent homebuyers are taking on larger scope projects than all other home renovators according to the Houzz &amp; Home Australia survey from Houzz, the platform for home renovation and design.
The survey, of almost 10,000 respondents in Australia and more than 185,000 globally, revealed that over a quarter of renovations are driven by recent home purchases (29 percent).
Recent homebuyers are nearly twice as likely to renovate all of their interior spaces than the average home renovator (15 percent versus eight percent, respectively).
When considering priorities, kitchen projects top the list for recent buyers (31 percent versus 25 percent for the average renovating homeowner), followed by living rooms (32 percent versus 23 percent) and master bathrooms (22 percent versus 17 percent).
“2016 was another strong year for the home renovation market, with homeowners continuing to invest in their homes," said Nino Sitchinava, principal economist at Houzz.
“While the majority of renovations are spurred by homeowners’ desire to upgrade a home they have lived in for some time, recent home purchases are also an important driver of home renovation activity.
“Recent homebuyers tend to do more, spend more, and are more likely to hire professionals to help with their renovation projects than other homeowners.”
This year is on track to be another boom year for home renovations, with half of homeowners on Houzz planning to begin or continue renovations in 2017 (50 percent).
Homeowners plan to spend an average of $47,000 on home renovations in 2017. In 2016, kitchen renovations commanded the highest spend ($19,300), followed by master bathrooms ($12,300).
Other top findings include:
Energy Efficient and Healthy Homes:
● While design and functionality top the list of renovation considerations (both 74 percent), almost half of homeowners consider energy efficiency extremely important to their projects (42 percent). To create more energy efficient homes, homeowners are installing home automation technology and solar systems during their renovations (8 percent and 7 percent respectively). Home automation is even more common among recent buyers (15 percent).
● Australian homeowners are also health conscious with almost a quarter reporting health concerns as a priority factor to their renovation project (24%).
Cash is King:
● Seventy-nine percent of homeowners reported to have used cash and savings to fund their projects in 2016.
● Refinancing trails behind at second (15 percent in 2016), with recent homebuyers more likely to refinance than long term owners (21 percent versus 15 percent, respectively).
● Recent buyers are also more likely to use credit cards to fund their projects (16 percent versus 13 percent for long term owners).
Breaking Budget:
● The top challenge facing renovating homeowners in 2016 was staying on budget (34 percent).
● Other top challenges include finding the right products and materials and finding the right service providers (both 33 percent).
Pro is The Go:
● Nine in ten renovating homeowners hired professionals for their renovation projects in 2016, consistent with 2015 (both 89 percent). Recent homebuyers are even more likely to rely on professional help than long term owners (92 percent versus 88 percent, respectively).
Raring to Renovate:
● One in two homeowners on Houzz report plans to renovate over sell their homes (53 percent versus seven percent respectively).
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Recent homebuyers drive renovation activity, Houzz study finds

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Homeowners in Australia are active home upgraders, according to the 2016 Houzz &amp; Home report.
Houzz, the website platform for home renovation and design, undertook a study, of almost 14,000 respondents in Australia and over 229,000 respondents globally.
It revealed that more than half renovated their homes in 2015 (56 percent), with a similar portion reporting their plans to renovate in 2016 (49 percent).
Almost half of renovating Australian homeowners opt to take on a renovation instead of buying an already “perfect” home due to their desire to stay in their current home or lot (46 percent). A third choose the renovation route in order to remain in their current neighbourhood (33 percent), with 29 percent choosing renovation because it was a more affordable option.
For Millennials, financial considerations are more top of mind – over a third cite affordability as the top reason for renovating versus buying (36%). When it comes to the triggers behind taking on a renovation project, finally having the time tops the list for Aussie renovators (35% of homeowners who renovated their primary homes in 2015), ahead of finally having the financial means (34 percent).
“As the largest survey of home renovation, decorating, and building activity published, Houzz &amp; Home provides unprecedented insights into how homeowners are updating their homes,” said Nino Sitchinava, principal economist at <a href="https://www.houzz.com.au/">Houzz</a>. “Our 2016 findings uncover the factors behind what is driving so many Australian homeowners to renovate to create their ideal home rather than purchasing one that is ‘perfect’ as is, as well as how these factors differ by generation. Interestingly, while the generation of homeowners between the ages of 24 and 34 still comprise a small share of the homeownership population, we’re finding that they are quite active when it comes to home upgrades, and are eager to make their homes their own.”
POPULAR PROJECTS
● Homeowners are prioritising renovation and addition projects in their kitchens (26 percent and 6 percent, respectively), living/family room (25 percent and 7 percent, respectively), non-master bedrooms (20 percent and 4 percent, respectively) and master bathrooms (19 percent and 4 percent, respectively).
● Updating an outdated or undesirable design/style is the top issue addressed in Aussie kitchens and bathrooms (44 percent and 49 percent, respectively). Old or outdated finishes is the top issue being addressed in other interior room renovations (38 percent).
● Many homeowners are tackling home systems upgrades including plumbing (32 percent), electrical (31 percent) and cooling (19 percent).
● For exterior upgrades, top projects include updates to paint (28 percent), gutters/drain pipes (22 percent) and decking (22 percent).
BUDGET? WHAT BUDGET?
● One-third of renovating homeowners take on a renovation project without setting a budget (33 percent), and close to the same share exceed their established budget (27 percent). These figures are largely consistent across all age groups.
● The top budget buster is the decision to opt for more upscale products and materials (44 percent), ahead of products/services being more costly than expected (42 percent) and the discovery of unexpected construction-related issues (33 percent).
● Aussie homeowners on Houzz spent $68,300 on average in home improvements in 2015. Homeowners aged 35-54 drive home renovation spend ($80,300 on average), investing almost twice as much as Millennial homeowners in their home upgrades ($41,200 on average) and a fourth more than those aged 55+ ($57,500 on average).
● When it comes to spending on kitchen renovations – the top home renovation project in 2015 – homeowners spent an average $31,000 on major renovations* of a large kitchen (more than 12 square metres), and $21,840 for major renovations of a small kitchen (less than 12 square metres).
● In terms of bathrooms, homeowners spent an average of $16,440 on major renovations* of a large bathroom in 2015 (more than 5 square metres), and $14,770 for major renovations of a small bathroom (less than 5 square metres).
● How did homeowners finance these projects? The majority of homeowners continue to use personal savings/finances to fund their renovations (78 percent), followed by cash from mortgage refinances (16 percent) and credit cards (14 percent).
A HELPING HAND
● Nine in ten homeowners renovate their homes with professional help (89 percent).
● Professional hiring is popular across all generations of homeowners, although it is slightly higher among those age 55 and over (91 percent, vs. 89 percent for those 35-54 and 85 percent of those 25-34).
● A third of homeowners who hire a professional for their renovations select a home builder (21 percent), while 14 percent hire a kitchen designer or renovator, and 13 percent hire a landscape contractor or gardener.
● Top specialty trades include electricians (71 percent), plumbers (57 percent), and carpenters (40 percent).
THE HOUZZ &amp; HOME SURVEY
*A major renovation at minimum replaces all cabinetry and appliances. Additions are not included in these numbers. Numbers include both DIY projects and those which used design or construction professionals.
The full Australian report is available <a href="https://info.houzz.com/rs/804-JLJ-529/images/Australia_Houzz_%26_Home.pdf">here</a>.
The full Australian report is available <a href="https://info.houzz.com/rs/804-JLJ-529/images/Australia_Houzz_%26_Home.pdf" target="_blank">here</a>.
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