Australians are more likely to take a loan out to renovate their homes than to splash out on a holiday or a lavish wedding.
Brisbane-based lender CUA says more than one in 10 personal loans it has issued in the 12 months to June 30 have been for home improvements or household goods.
Home renovators borrowed slightly more than $15,000 on average, while loans for household items were about $8,900 on average.
Slightly more than five per cent of personal loans were for holidays, with the average amount being $10,000.
CUA head of customer insights Chris Malcolm says the strong number of loans taken out to renovate showed people were thinking of their future.
'Customers see any money they put into their home, including renovations and home improvements, as being an investment in their future,' he said.
Personal expenses, motor vehicle repairs and medical expenses also made it into the top 10 reasons to take out a personal loan.