Renovated kitchens add $24k to Australian Home Values

 The Australian home is evolving faster than ever, and where we choose to invest our renovation budgets speaks volumes about changing lifestyle priorities. As Australia’s leading destination for furniture, homewares and renovations, Temple & Webster surveyed home buyers and renovators nationwide to explore the real value behind home upgrades. Our latest study focuses on the kitchen to uncover what buyers are truly willing to pay for a finished space, and why the generational gap in property expectations is widening. 

Our new research reveals a renovated kitchen lifts what Australians would pay for a home by an average of $23,994 compared with an identical home with a dated one, from a nationally representative survey of 1,000+ Australians.

It comes as renovation spending hits record levels. ABS data shows Australians spent $16.62 billion renovating their existing homes in the year to June 2026, the highest 12 month total in 51 years of records.
 

How much buyers would pay varies widely

78% would pay some premium for a renovated kitchen, though the amount varies widely:
 

• 18% would pay $25,000 or more, including 6% who would pay above $50,000
• 27% would pay between $10,001 and $25,000
• 32% would pay up to $10,000

Just 14% say they would renovate a kitchen without a tradesperson, which suggests most renovations still involve a professional.

“Australians are spending a record amount renovating. Our survey shows buyers reward a finished kitchen with a premium,” said Cameron Barnsley, CFO of Temple & Webster. “While a renovated kitchen has resale value to the majority of buyers, some of those willing to spend less may prefer to shape a kitchen to their own taste, rather than buy someone else’s finished version.”
 

Generational gap tops $10,000

If you are selling a home that is targeting Millennial buyers, a renovated kitchen is likely to have a greater impact. Millennials would pay almost 70% more than Boomers for the same upgrade, $26,970 against $15,930. Gen X follows at $25,187 and Gen Z at $20,664, a gap of just over $11,000 between the highest and lowest cohorts.

“Millennials are buying into an expensive market, yet they are among the most willing to pay for a renovated kitchen,” said Barnsley. “That may reflect life stage. Millennials and Gen X are the generations most likely to be raising families, when the kitchen does the most work.”



Whether you are tackling a full-scale kitchen remodel to boost resale value or making simple design updates to suit your personal style, having the right range and inspiration makes all the difference. As Australia’s leading destination for furniture, homewares and renovations, Temple & Webster is dedicated to helping you bring your vision to life.
 

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