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Housing : March 2009
K&B Trends predicts an expected slide of 2.5 per cent in total kitchens over 2008–09. Should the renovations market fail to hold steady, and that is not an inconsiderable risk, then the overall decline will be larger. The good news is that anticipated higher activity in both the new home and renovation sectors over 2009–10 to 2010–11 is forecast to lift the rate of growth for kitchen installations. In value terms, the total industry reached a value of almost $5.9 billion in 2007–09, which was 6.2 per cent higher than in 2006–07. A trend towards bigger and higher quality kitchens is expected to see an increase in the total value of kitchen installations over 2008–09 and 2010–11. The bathroom sector is also in for a tough few months. After falling by 5.7 per cent over 2005–06 and 2006–07, the total number of bathroom installations increased by 3.7 per cent over 2007–08. This modest rise took the total number of installations to 691,300. The ongoing weakness in new homes is expected to be the primary factor driving a 2.8 per cent contraction in 2008–09. But the report also shows that as new home building and renovations sectors improve in 2009–10 and 2010–11, total bathroom installations are forecast to rise to 7.9 per cent over this period. In value terms, total expenditure on bathroom installations increased by 6.4 per cent over 2007–08 to $4.1 billion. The recovery in the total value of bathroom installations is expected to increase by nearly $490 million, or 11.5 per cent, over the three years to 2010–11. Figure 5: Number of Renovated Kitchens Installed, Australia 100.0 150.0 200.0 250.0 300.0 350.0 50.0 0.0 One way businesses in the bathroom sector can cope with slower times may be to look at extending their range of products to meet the growing consumer appetite for more luxurious and environmentally friendly bathrooms. Caroma Dorf and Royston Wilson, of Royston Wilson Design, say consumers are demanding bigger and brighter bathrooms. ‘The key elements in a luxury bathroom are size, light, generous bathing areas, more storage,’ Royston says. ‘Generally larger spaces are being put aside for bathrooms.’ Anticipated higher activity over 2009–10 to 2010–11 is forecast to lift the rate of growth for kitchen installations He also suggests looking at greener Figure 6: Value of Renovated Kitchens Installed, Australia 1000.0 2000.0 3000.0 4000.0 5000.0 6000.0 0.0 products. Taps, fixtures and fittings, especially ‘green’ fittings are the main elements of the bathroom customers are most concerned about when renovating. Popular items include Caroma Smartflush toilets; water-saving showers, taps with controlled water pressure, and skylights. ‘Basically, clients are asking more questions on the whole green theme,’ he says. ‘As people become more and more aware of the ramifications of unnecessary water usage, clients start to consider all the possible ways they can save water within their bathrooms through the use of greener fittings.’ For a full copy of the kitchens and bathrooms report, contact Kirsten Lewis on 02 6245 1393. H HOUSING MARCH 2009 39 1990/91 1991/92 1992/93 1993/94 1994/95 1995/96 1996/97 1997/98 1998/99 1999/00 2000/01 2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 f 2009/10 f 2010/11 f 19 199 199 199 199 199 199 199 199 19 20 200 200 20 20 20 20 20 200 200 201 1990/91 1991/92 1992/93 1993/94 1994/95 1995/96 1996/97 1997/98 1998/99 1999/00 2000/01 2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 f 2009/10 f 2010/11 f Photo courtesy Karl Noonan Designs