Latest news with #Hipages
Daily Telegraph
06-05-2025
- Business
- Daily Telegraph
Top Australian suburbs where homeowners are renovating instead of moving
More Aussie homeowners are staying put and putting their efforts into turning their kitchens, backyards and garages into DIY gold. New figures from digital lender MoneyMe show and Craigieburn in Melbourne's north has claimed the title of the nation's renovation capital, topped the list for personal renovation loan applications, with locals borrowing an average of $22,400 to upgrade rather than relocate. It's a trend sweeping the country, as homeowners in Western Sydney, South East Queensland and coastal Western Australia opt to improve instead of upsize, spurred on by steep property prices, rising stamp duty and soaring relocation costs. RELATED: 8m Aussies' shockingly low amount in bank Asian mural creates backyard resort-style oasis at Melb home Shock move in Melbourne home prices revealed According to Hipages data, extension jobs have jumped by 37 per cent in New South Wales, while granny flat builds are up 20 per cent nationally in the past 12 months to January 2025. Ikea kitchen installations are also booming — up 23 per cent in NSW, 32 per cent in WA, and 12 per cent in Victoria — as homeowners choose affordable renovations over high-end overhauls. NSW led the nation for both the value and volume of personal renovation loans, with the average size hitting $22,640. ABS figures show the total average home renovation loan in the state climbed to $225,664, up nearly $20,000 in just a year. Hipages chief revenue officer Robert Tolliday said the trend reflected a mix of financial pressure and lifestyle changes. 'We're seeing a real surge in jobs like kitchen upgrades and granny flats targeted improvements that make a big difference without the cost of moving,' Mr Tolliday said. 'The transaction costs involved with relocating such as stamp duty, agents' fees, (and) legal costs all add up. For many people, it's just smarter to stay put and invest in what you already have. 'Granny flats in particular are growing fast. People are using them for elderly parents, adult kids, or even as rental income, they're a really flexible solution.' Mr Tolliday said the appetite for affordable, high-impact upgrades like Ikea kitchens was particularly strong in outer metro suburbs. In Victoria, Ikea kitchen installs rose 12 per cent, while extension and addition jobs fell 3 per cent, bucking the national trend. Renovation activity remained strongest in Craigieburn, Point Cook and Hoppers Crossing, along with Bayside and Melbourne's southeast. In Queensland, the most in-demand areas were the Gold Coast, Brisbane North and South, Sunshine Coast, and the Redcliffe and Caboolture regions. MoneyMe chief sales and marketing officer Richard Bray said renovation loans were becoming especially popular with younger buyers in outer-suburban growth corridors. 'Many first-home buyers can't afford the perfect home straight away, so they buy something affordable and renovate as they go,' Mr Bray said. 'We're seeing this trend particularly in fringe suburbs, where buyers are picking up homes with potential, then funding upgrades like bathrooms, kitchens and landscaping.' In Craigieburn, Ray White auctioneer Trish Orrico said renovation was simply part of the local mindset. 'It's a great area, I've lived here for 18 years and renovated my own home. I've chosen to improve rather than move,' Ms Orrico said. 'There's still land being released and it's not a fully established market yet, but once it is, I think we'll see even stronger capital growth. Buyers' advocate and host of The Buyers Bible podcast Amy Lunardi said more clients were becoming cautious about large-scale renovations but still keen to add value where they could. 'With the cost of building so high, many buyers now prefer homes that have already been renovated,' Ms Lunardi said. 'That said, if the layout and size are right, and it's in the right location, people are happy to do cosmetic updates later, just not the big structural stuff.' But Ms Lunardi warned that many Australians still underestimate how much time and money renovating really takes. 'Television shows make it look easy, but it's often a longer and more expensive process than people expect,' she said. 'I always tell clients to research costs and timelines properly, especially if they plan to live through the works.' Average renovation loan size by state and national demand share State Average Loan Size (MoneyMe) Loan Demand Share (MoneyMe) Ikea Kitchen Install Growth Extension Job Growth Granny Flat Job Growth New South Wales $22,640 28% 23% 37% 20% Victoria $22,491 27% 12% -3% 20% Queensland $20,677 21% N/A 20% 20% All Other States $20,772 24% +32% (WA) +36% (WA), -24% (SA) 20% Source: MoneyMe personal loan data and Hipages renovation job posting trends. Top 10 Aussie suburbs for home renovation loan applications Rank Suburb State 1 Craigieburn VIC 2 Point Cook VIC 3 Hoppers Crossing VIC 4 Cranbourne VIC 5 Alexandra QLD 6 Campbelltown NSW 7 Liverpool NSW 8 Blacktown NSW 9 Box Hill NSW 10 Frankston VIC Source: MoneyMe analysis of suburb-level personal loan applications for home renovations. Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: 8m Aussies' shockingly low amount in bank Asian mural creates backyard resort-style oasis at Melb home Shock move in Melbourne home prices revealed
Herald Sun
06-05-2025
- Business
- Herald Sun
Top Australian suburbs where homeowners are renovating instead of moving
Craigieburn has emerged as Australia's top renovation hotspot, with locals borrowing big to upgrade. More Aussie homeowners are staying put and putting their efforts into turning their kitchens, backyards and garages into DIY gold. New figures from digital lender MoneyMe show and Craigieburn in Melbourne's north has claimed the title of the nation's renovation capital, topped the list for personal renovation loan applications, with locals borrowing an average of $22,400 to upgrade rather than relocate. It's a trend sweeping the country, as homeowners in Western Sydney, South East Queensland and coastal Western Australia opt to improve instead of upsize, spurred on by steep property prices, rising stamp duty and soaring relocation costs. RELATED: 8m Aussies' shockingly low amount in bank Asian mural creates backyard resort-style oasis at Melb home Shock move in Melbourne home prices revealed According to Hipages data, extension jobs have jumped by 37 per cent in New South Wales, while granny flat builds are up 20 per cent nationally in the past 12 months to January 2025. Ikea kitchen installations are also booming — up 23 per cent in NSW, 32 per cent in WA, and 12 per cent in Victoria — as homeowners choose affordable renovations over high-end overhauls. NSW led the nation for both the value and volume of personal renovation loans, with the average size hitting $22,640. Homeowners investing in kitchens, bathrooms and outdoor spaces instead. Picture Lachie Millard ABS figures show the total average home renovation loan in the state climbed to $225,664, up nearly $20,000 in just a year. Hipages chief revenue officer Robert Tolliday said the trend reflected a mix of financial pressure and lifestyle changes. 'We're seeing a real surge in jobs like kitchen upgrades and granny flats targeted improvements that make a big difference without the cost of moving,' Mr Tolliday said. 'The transaction costs involved with relocating such as stamp duty, agents' fees, (and) legal costs all add up. For many people, it's just smarter to stay put and invest in what you already have. Young families are leading the renovation wave in growth suburbs like Point Cook, VIC and Blacktown, NSW. 'Granny flats in particular are growing fast. People are using them for elderly parents, adult kids, or even as rental income, they're a really flexible solution.' Mr Tolliday said the appetite for affordable, high-impact upgrades like Ikea kitchens was particularly strong in outer metro suburbs. In Victoria, Ikea kitchen installs rose 12 per cent, while extension and addition jobs fell 3 per cent, bucking the national trend. Renovation activity remained strongest in Craigieburn, Point Cook and Hoppers Crossing, along with Bayside and Melbourne's southeast. Western Sydney suburbs including Blacktown and Parramatta are seeing a surge in renovation demand. In Queensland, the most in-demand areas were the Gold Coast, Brisbane North and South, Sunshine Coast, and the Redcliffe and Caboolture regions. MoneyMe chief sales and marketing officer Richard Bray said renovation loans were becoming especially popular with younger buyers in outer-suburban growth corridors. 'Many first-home buyers can't afford the perfect home straight away, so they buy something affordable and renovate as they go,' Mr Bray said. 'We're seeing this trend particularly in fringe suburbs, where buyers are picking up homes with potential, then funding upgrades like bathrooms, kitchens and landscaping.' New data shows homeowners are borrowing an average of $22,000 to fund home improvement projects. In Craigieburn, Ray White auctioneer Trish Orrico said renovation was simply part of the local mindset. 'It's a great area, I've lived here for 18 years and renovated my own home. I've chosen to improve rather than move,' Ms Orrico said. 'There's still land being released and it's not a fully established market yet, but once it is, I think we'll see even stronger capital growth. Buyers' advocate and host of The Buyers Bible podcast Amy Lunardi said more clients were becoming cautious about large-scale renovations but still keen to add value where they could. In southeast Queensland, renovation activity is rising as locals upgrade homes instead of relocating. Photo: Adam Yip 'With the cost of building so high, many buyers now prefer homes that have already been renovated,' Ms Lunardi said. 'That said, if the layout and size are right, and it's in the right location, people are happy to do cosmetic updates later, just not the big structural stuff.' From paintbrushes to power drills, Australians are transforming their homes one upgrade at a time. But Ms Lunardi warned that many Australians still underestimate how much time and money renovating really takes. 'Television shows make it look easy, but it's often a longer and more expensive process than people expect,' she said. 'I always tell clients to research costs and timelines properly, especially if they plan to live through the works.' Average renovation loan size by state and national demand share State Average Loan Size (MoneyMe) Loan Demand Share (MoneyMe) Ikea Kitchen Install Growth Extension Job Growth Granny Flat Job Growth New South Wales $22,640 28% 23% 37% 20% Victoria $22,491 27% 12% -3% 20% Queensland $20,677 21% N/A 20% 20% All Other States $20,772 24% +32% (WA) +36% (WA), -24% (SA) 20% Source: MoneyMe personal loan data and Hipages renovation job posting trends. Top 10 Aussie suburbs for home renovation loan applications Rank Suburb State 1 Craigieburn VIC 2 Point Cook VIC 3 Hoppers Crossing VIC 4 Cranbourne VIC 5 Alexandra QLD 6 Campbelltown NSW 7 Liverpool NSW 8 Blacktown NSW 9 Box Hill NSW 10 Frankston VIC Source: MoneyMe analysis of suburb-level personal loan applications for home renovations. Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: 8m Aussies' shockingly low amount in bank Asian mural creates backyard resort-style oasis at Melb home Shock move in Melbourne home prices revealed
News.com.au
05-05-2025
- Business
- News.com.au
Top Australian suburbs where homeowners are renovating instead of moving
More Aussie homeowners are staying put and putting their efforts into turning their kitchens, backyards and garages into DIY gold. New figures from digital lender MoneyMe show and Craigieburn in Melbourne's north has claimed the title of the nation's renovation capital, topped the list for personal renovation loan applications, with locals borrowing an average of $22,400 to upgrade rather than relocate. It's a trend sweeping the country, as homeowners in Western Sydney, South East Queensland and coastal Western Australia opt to improve instead of upsize, spurred on by steep property prices, rising stamp duty and soaring relocation costs. According to Hipages data, extension jobs have jumped by 37 per cent in New South Wales, while granny flat builds are up 20 per cent nationally in the past 12 months to January 2025. Ikea kitchen installations are also booming — up 23 per cent in NSW, 32 per cent in WA, and 12 per cent in Victoria — as homeowners choose affordable renovations over high-end overhauls. NSW led the nation for both the value and volume of personal renovation loans, with the average size hitting $22,640. ABS figures show the total average home renovation loan in the state climbed to $225,664, up nearly $20,000 in just a year. Hipages chief revenue officer Robert Tolliday said the trend reflected a mix of financial pressure and lifestyle changes. 'We're seeing a real surge in jobs like kitchen upgrades and granny flats targeted improvements that make a big difference without the cost of moving,' Mr Tolliday said. 'The transaction costs involved with relocating such as stamp duty, agents' fees, (and) legal costs all add up. For many people, it's just smarter to stay put and invest in what you already have. 'Granny flats in particular are growing fast. People are using them for elderly parents, adult kids, or even as rental income, they're a really flexible solution.' Mr Tolliday said the appetite for affordable, high-impact upgrades like Ikea kitchens was particularly strong in outer metro suburbs. In Victoria, Ikea kitchen installs rose 12 per cent, while extension and addition jobs fell 3 per cent, bucking the national trend. Renovation activity remained strongest in Craigieburn, Point Cook and Hoppers Crossing, along with Bayside and Melbourne's southeast. In Queensland, the most in-demand areas were the Gold Coast, Brisbane North and South, Sunshine Coast, and the Redcliffe and Caboolture regions. MoneyMe chief sales and marketing officer Richard Bray said renovation loans were becoming especially popular with younger buyers in outer-suburban growth corridors. 'Many first-home buyers can't afford the perfect home straight away, so they buy something affordable and renovate as they go,' Mr Bray said. 'We're seeing this trend particularly in fringe suburbs, where buyers are picking up homes with potential, then funding upgrades like bathrooms, kitchens and landscaping.' In Craigieburn, Ray White auctioneer Trish Orrico said renovation was simply part of the local mindset. 'It's a great area, I've lived here for 18 years and renovated my own home. I've chosen to improve rather than move,' Ms Orrico said. 'There's still land being released and it's not a fully established market yet, but once it is, I think we'll see even stronger capital growth. Buyers' advocate and host of The Buyers Bible podcast Amy Lunardi said more clients were becoming cautious about large-scale renovations but still keen to add value where they could. 'With the cost of building so high, many buyers now prefer homes that have already been renovated,' Ms Lunardi said. 'That said, if the layout and size are right, and it's in the right location, people are happy to do cosmetic updates later, just not the big structural stuff.' But Ms Lunardi warned that many Australians still underestimate how much time and money renovating really takes. 'Television shows make it look easy, but it's often a longer and more expensive process than people expect,' she said. 'I always tell clients to research costs and timelines properly, especially if they plan to live through the works.' Average renovation loan size by state and national demand share State Average Loan Size (MoneyMe) Loan Demand Share (MoneyMe) Ikea Kitchen Install Growth Extension Job Growth Granny Flat Job Growth New South Wales $22,640 28% 23% 37% 20% Victoria $22,491 27% 12% -3% 20% Queensland $20,677 21% N/A 20% 20% All Other States $20,772 24% +32% (WA) +36% (WA), -24% (SA) 20% Top 10 Aussie suburbs for home renovation loan applications Rank Suburb State 1 Craigieburn VIC 2 Point Cook VIC 3 Hoppers Crossing VIC 4 Cranbourne VIC 5 Alexandra QLD 6 Campbelltown NSW 7 Liverpool NSW 8 Blacktown NSW 9 Box Hill NSW 10 Frankston VIC
Yahoo
28-03-2025
- Business
- Yahoo
AI agents are revolutionising customer experience
Based on GlobalData's conversations with technology vendors, service providers and enterprises, customer experience (from customer service to personalisation) has been the top business driver for the use of AI. There are already many AI-enabled use cases including chatbots and agent assistants. With GenAI developing rapidly, there is a general expectation that AI will improve experiences through better understanding of questions and customer demand. In reality, however, many AI projects and pilots have not moved into production (as high as 85%, according to some technology vendors). There are many reasons for this, ranging from cost to data quality, governance and security. GlobalData expects the development of agentic AI to be a key driver in turning large language models into revenue generators. Agentic AI offers benefits associated with problem-solving, not just content generation. It is able to operate autonomously, making decisions and executing tasks. AI agents will continue to learn and self-optimise, thereby enhancing its effectiveness over time. Technology vendors are now introducing tools to help enterprises build agents without extensive development work. One example is Salesforce with the launch of Agentforce in 2024. The company has reported growing market traction with Agentforce, and at its recent event held in Sydney, Australia, the company shared customer examples and the business benefits the solution has delivered. One example is Fisher & Paykel, a global household appliances company that has implemented Agentforce to enhance its customer service. By giving digital agents access to the company's knowledge base of more than 10,000 articles, these agents have been able to handle more customer inquiries (increasing from 33% of inquiries being handled by chatbots which had previously been introduced up to 60% with Agentforce). Using Agentforce, Fisher & Paykel's digital agents are now able to address clients' appliance issues with access to customer information for context, engage customers through conversation and schedule technician visits without fully walking through the issue. Hipages is another featured Salesforce customer. The company connects tradespeople with homeowners for home improvement through an online platform. Hipages uses Data Cloud and Agentforce to reduce turnaround time for onboarding verification checks from about three hours to near real-time. The verification process is necessary to ensure tradesmen have the necessary certifications required under various regulations. Replacing manual processes with AI has enabled Hipages to scale its operations, provide tradesmen with faster turnaround times and reduce human error, all without increasing its workforce significantly. It is not only Salesforce innovating in this area. Other technology vendors are also establishing platforms to help enterprises build agents with minimal amount of effort (such as through a low-code platform). In December 2024, Google Cloud launched Agentspace, which offers a low-code visual tool to build expert agents that can assist those in business roles, such as business analysts, HR professionals, software engineers and marketers, to become more efficient. Agentspace leverages Google's multimodal AI search capabilities, NotebookLM (an AI-powered research and note-taking tool), and pre-built connectors such as Confluence, Google Drive, Jira, Microsoft SharePoint and ServiceNow. Microsoft has also introduced Azure AI Agent Service which brings together models, data, tools and services to deploy AI agents. While technology vendors are making efforts to enable ease of deployment of agents, the challenge for enterprises going forward will be the choice of technology partners and to keep up with the pace of innovation. Service providers should play a key role as advisors to enterprises, supporting them in developing strategy for implementation and ongoing support. It is crucial for service providers to have the necessary expertise and certifications across different vendor environments since it is likely that businesses will use multiple vendors as their operations evolve. "AI agents are revolutionising customer experience" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
