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Renting of Personal and Household Goods in Australia: ISIC 713

Australia personal household goods rental market increase by 5% CAGR since 2000, despite a downturn during 2009 and 2010


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2014-04-02 06:10:03 - Renting of Personal and Household Goods in Australia: ISIC 713 - a new market research report on companiesandmarkets.com

The Australian market for renting personal and household goods experienced a rapid development from 2000 to 2010, seeing an expansion of value at 61%. The renting household and personal goods market is obviously dependent on consumer economic confidence and thus on the general economic situation. Consequently, the market size grew at its highest rate in 2008 at more than 15% year-on-year.

However, value decreased significantly during the economic downturn, with 5% and 3% decline in 2009 and 2010, respectively. Nevertheless, on average the market grew at 5% each year since 2000. Growth was due to consumers starting to take advantage of the benefits of renting: no substantial capital outlays, no depreciation, flexible terms and different packages available, quick replacement and no

 

 

maintenance costs.

More importantly, customers are allowed to claim 100% of rental payments as a tax deduction, which created major momentum.

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Mike King
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