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Furniture in Australia: ISIC 361

Australian furniture market growth driven by natonal policies in the housing market during 2000 to 2010

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2014-02-07 08:25:02 - Furniture in Australia: ISIC 361 - a new market research report on

The Australian market for furniture saw a 2% average annual growth over the review period of 2000-2010. Performance was directly stimulated by the growing economy and thus Australians´ rising purchasing power.

The total market size for furniture reached A$13.3 billion in 2010, 24% more than in 2000, encouraged by favourable national policies. In order to stimulate the housing industry and increase home affordability, the Australian Government implemented the "First Home Owner Grant" which consisted of A$7,000 available to first home owners buying or building a new home.

During the global financial crisis, an additional "First Home Owner Boost" was added in October 2008, providing an additional A$7,000. Furthermore, as a part of the A$42 billion Nation Building and Jobs Plan, the government



implemented the Building the Education Revolution (BER) programme, which funds the building and rebuilding of primary and secondary school infrastructure.

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