The humble backyard swimming pool has always been a classic accompaniment for the everyday Australian home but the last year has seen the pool industry explode with demand that’s never been seen before. If your home has a swimming pool, you can potentially see a 20% higher return than homes without one. Could this be the incentive driving homeowners to purchase a pool? While it certainly adds to the unprecedented level of interest, other factors such as COVID-19 play a large part in the overall growth of the industry over the past year. According to Deputy President Damian Collins from The Real Estate Institute of WA, residents with higher-priced homes in more exclusive areas are the ones who would benefit most financially from installing a pool. With a regular-sized inground pool starting at around the $30,000 – $35,000 mark, homes valued 1 million-plus could make an extra $100,000 or more on the resale price. Those with a home valued at $400,000 or less are not likely to see the same kind of profits, unfortunately. 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.” Family-friendly homes priced around $600,000 or more did well and typically made an extra 5% – 15% profit when selling. It’s hard to ignore the infatuation Aussies have for their swimming pools and regardless of whether they add significant value or not they will always be popular amongst a vast number of house hunters.
If your home has a swimming pool, you can potentially see a 20% higher return than homes without one
COVID-19 Sees The Pool Industry Swamped With History Breaking Sales
With the possibility of a mandatory lockdown being enforced at any given moment, the nation is on edge. More people are focusing on their health, fitness and general wellbeing now more than ever and with the option of leaving home potentially off the cards, many are seeking salvation in their own backyard. Last year saw the pool industry swamped with demand as having a swimming pool became a household necessity.
Barrier Reef Pools Perth have been in the fibreglass pool business for decades and have never encountered such widespread interest in pools both here in Australia and across the globe. While the warmer months generally sparks increased sales and enquires, the volume they are facing daily is almost unfathomable. Coronavirus is unpredictable, one minute the country is travelling along fine with low cases numbers and the next minute we’re being jolted into strict lockdowns. Because of this, many homeowners are scrambling to get a pool installed. 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.”
Before jumping in and committing to a pool purchase, there few things that should be considered first. “They need to make sure they use a licensed and qualified builder and have an understanding of the fencing regulations,” Mr McGrath said. Most states and territories have pool fencing laws enforced and your pool barrier must comply with them.
With international borders remaining closed into the unforeseeable future, many are staying put for holidays and investing their money into their homes instead and until there is some indication that COVID-19 is behind us, the demand for swimming pools is predicted to stay at record highs.