The Pool Industry Booms As A Soaring Number Of Aussies Splash Out This Iconic Staple
Want To Add Value To Your Home? A Pool May Just Be The Answer
Most Australians love the idea of having a swimming pool in their backyard. With mild winters and hot summers its not hard to understand why. Its not only the lifestyle benefits that are enticing Aussies to splash out on a pool. Homes with pools can make an extra 20% profit when it comes time to sell. For decades, the desire to install a swimming pool was centred around family time and fun in the sun but savvy investors and those who are actively looking at ways to add value to their home are turning to swimming pools to obtain a higher sale price. President Damian Collins from The Real Estate Institute of WA explains that while the general consensus is that homes will gain from installing a pool, the same rule doesn’t apply to all. Those residing in expensive areas and with a higher-priced property are the ones who are likely to see the biggest profit from installing a pool, he said. For a million-dollar property, the owner could possibly add more than $100,000 to the resale price and with a standard family-sized pool starting at around $35,000, this isn’t a bad return. Properties valued under $400,000 are not likely to reap the same kind of returns. Mr Collins said, “Pools can be expensive and a house worth $300,000 to $400,000 an extra budget of $30,000 to $60,000 for a pool may be too much for prospective buyers to pay and it doesn’t seem to be highly valued in this market.” Median priced family orientated homes with pools often see a modest return of around 5% to 15% he said. Homes with swimming pools have always been and will continue to be popular in the market. The prospect of increasing a properties value is adding to the appeal.
The Most Sought-After Home Feature Of 2021
Last year was a year like no other and many businesses suffered, however, a few industries defied the odds and flourished. Two of those are real estate agents and pool builders who have been inundated with demand for none other than the iconic backyard swimming pool.
Tradie site, hipages said a staggering number of people are wanting to transform their backyard with a swimming pool and the industry has seen a 175% surge in pool-related jobs. National body for the pool industry, the Swimming Pools and Spas Association of Australia, claim there has been a dramatic jump in pool sales and enquires over the last 12 months, generating a 30% spike in demand.
Leading real estate website, real.esate.com.au, have also noticed the overwhelming interest for swimming pools with a 30% rise in the number of searches that include a pool over the last six months.
Homes with pools can make an extra 20% profit when it comes to sell
COVID-19 Sees Unprecedented Demand For Swimming Pools
When Coronavirus first hit our shores, it catapulted the nation into strict lockdowns in an attempt to “flatten the curve”. Since then, several states have experienced a series of lockdowns which meant spending more time at home. With international travel off the cards indefinitely and the prospect of more lockdowns, people are investing money that would normally be spent on lifestyle activities and holidays into their home instead. Because of this, the number of people in the market for a swimming pool has skyrocketed. While covid-19 has had a devastating effect on many trades, the pool industry is one of the lucky few who have been unscathed, in fact, quite the opposite. Factory Pools Perth is among them and have never encountered so much demand in their time in business. Enquires and sales are non-stop not only in Australia but internationally too. No one knows if or when there will be another outbreak and this is prompting many to install a pool so if they are faced with lengthy lockdowns, they can maintain their fitness and lifestyle needs from home.
Chief Executive of the Swimming Pools and Spas Association, Lindsay McGrath said “It’s a global phenomenon, my peers in every state are reporting that most of the pool builders are booked through to 2022. We could double the size of the industry and still not keep up.”
While pool companies are scrambling to keep up with demand, those who are wanting a pool should be aware of their state or territories pool rules and regulations before committing to pool ownership. “They need to make sure they use a licensed and qualified builder and have an understanding of the fencing regulations,” Mr McGrath said.