Bankwest’s Home Truths research has revealed that Western Australian homeowners are turning to YouTube to combat cost-of-living challenges, leaning on tutorial videos and a DIY culture to save on the expense of tradies.
Bankwest’s Home Truths survey collected responses from more than 1700 Australians, with a focus on WA, to better understand the needs, preferences, and attitudes of the homebuyers of today and tomorrow.
The research showed that more than four-in-five (86%) Western Australians were willing to undertake home maintenance and repair jobs themselves, rather than call in a tradie, as a result of YouTube instructional videos.
Millennials and Gen Z – the current and next generation of homebuyers – respondents led the DIY revolution, with 90 per cent influenced by YouTube in taking on their own repairs and maintenance.
A fifth (21%) of Western Australians said they had increased the amount of DIY they were doing, with two-in-five (39%) doing so for financial reasons, and a third (34%) saying it was specifically to save on the cost of tradies.
Half (50%) of Western Australians said they rarely or never sought skilled services, compared with 43 per cent of eastern states residents.
Most Western Australians (39%) limited their DIY to less complicated, but more time-consuming works, such as painting, but a fifth (22%) of Millennials and Gen Z were willing to take on complicated works, such as flooring.
The state’s men (17%) were almost twice as willing as women (9%) to take on more complicated works, but women led the cost-cutting charge, with 48 per cent taking on DIY to save money, compared to 28 per cent of men.
Bankwest General Manager Homebuying Peter Bouhlas said: “Western Australians over the past three years have shown how adaptive they can be to the world around them, and these results reflect that.
“Western Australian homeowners are experiencing a challenging financial environment as cost-of-living and inflationary pressures mount, and I have no doubt many households are searching for ways to stretch their budget.
“We’re also in a property market experiencing skills and supply shortages, which could also be a driver in homeowners electing to do their own works instead of waiting for tradespeople to become available.
“Services such as YouTube are filled with instructional videos on everything from minor works to large scale renovations, such as tiling and landscaping, so it’s not a surprise homeowners are tuning in to do it themselves.
“These cost savings can be quite significant and convenient time-wise for households in the current environment, but it is also important that people understand their limitations and don’t attempt work that could put them at risk."
