Boat ownership has been rising in Australia for years, and there is no sign of slowing down. With more than 80% of Australians living in coastal areas, it is no surprise to see boat ownership at an all-time high in 2023.
The boating industry in Australia has experienced significant changes and immense growth over the past years, driven by shifts in consumer preferences, technological advancements, and the effects of the Covid-19 pandemic. For many Australians, the pandemic was the push they needed to take the plunge, purchase a boat, and explore our country’s stunning coast and waterways.
A Comprehensive Guide to Boat Ownership in Australia
As Australia’s best-rated boat finance company and a market leader in brokering finance solutions, we appreciate the importance of staying updated with the latest trends in the marine industry and boat ownership statistics. Whether you’re looking to join almost one million Australians that own a boat and purchase your first, or you’re looking to add another vessel to your fleet, it is worth familiarising yourself with the state of boat ownership in Australia, the associated costs, and what these trends will mean for you as a Boaty.
This article outlines Australia’s most important boat ownership trends and statistics regarding new and used boat purchases, consumer preferences, how registrations differ state-by-state, the cost of boat ownership, and the impact of electric boats in our waterways. With 24 statistics on boat ownership, this is the comprehensive guide to help you stay updated with the most relevant and reliable marine information.
Table of Contents:
• Boat Registrations and Ownership Statistics 2023
• Boat Ownership Statistics by State 2023
• New Boat Vs Used Boat Statistics 2023
• Boat Sizes, Vessel Type, and Consumer Preferences 2023
• The Cost of Boat Ownership in Australia in 2023
• Electric Boat Statistics 2023
Boat Registrations and Ownership Statistics 2023
- As of July 2022, 1 in 10 Australians have a boat license.
The popularity of boating in Australia continues to surge, with 1 in 10 people holding a boat license. With a population of 25.7 million, this means over 2.5 million Aussies have a boat license, reflecting our nation’s deep love for water-based activities and exploring the outdoors.
- There are close to 1 million registered vessels in Australia.
The latest figures show 925,000 registered boats in Australia and countless non-motorised crafts, such as small sailcraft, which do not need to be registered. This massive fleet of vessels ranges from small aluminium tinnies to luxury superyachts and everything in between.
- The national turnover of the marine industry between 2021-2022 was $9.55 billion.
The Boating Industry Association (BIA) revealed a significant rise in national turnover within the marine industry, and this whopping figure of $9.55 billion is an 8.1% increase from the year before. This substantial increase is a result of multiple factors, including the increased interest in boat ownership and water exploration in Australia, the extensive range of vessels available in the market, and the option of boat financing, which makes owning a boat more accessible and affordable for people.
Boat Ownership Statistics by State 2023
More than 2.5 million Australians hold a boat license, which is a crazy amount for a country with a population of 25.7 million. From the northwest of WA to the southeast of Victoria, Aussies are boat mad. Let’s take a look at boat ownership and registered vessel statistics across the country and how they vary from state to state.
- Queensland has 979,000 people with boat licenses and 274,000 registered boats.
As of July 2022, Queensland has the most significant number of people with boat licenses and the most registered boats of any state in Australia. With the incredible QLD weather and easy access to many stunning beaches, lakes, rivers, and waterways, this is no surprise.
- In New South Wales, 542,000 people carry a boat license, and there are 241,000 registered boats.
Next after Queensland in terms of boat licenses is NSW, with over 500,000 people. New South Wales is close to Queensland regarding registered boats, with a whopping 241,000 vessels registered within the state.
- In Victoria, 438,000 individuals possess a boat license, with 194,000 registered boats in the state.
Like their neighbours in NSW, Victorians are water and boat enthusiasts. The most recent figures show that 438,000 people in the state held a boat license, with almost 200,000 registered vessels in Victoria waterways.
- Southern Australia has 303,000 residents with boat licenses and 58,000 registered vessels.
With the stunning SA coastline, it’s no surprise to see 303,000 people with boat licenses in the state. However, the number of registered vessels is significantly lower than QLD, NSW, and Victoria at 58,000.
- In Western Australia, 281,000 people have a boat license and 100,000 registered boats.
Western Australia is another state blessed with a magical coastline and stunning waterways. Therefore, we see very similar numbers to SA regarding boat licenses, with 281,000 people holding a license. Moreover, WA has almost double the number of registered boats as SA, with 100,000 vessels registered in the state.
- Tasmania has 62,000 people with boat licenses and 31,000 registered boats in TAS waterways.
Given its size, population, and cooler climate it’s no surprise to see that Tasmania has the lowest number of boat licenses and boat registrations, at 62,000 and 31,000 respectively. However, with a population of approximately 545,000, 11% of Tasmanians hold a boat license, which speaks to the Aussie love for the water.
In the Northern Territory, you do not need to hold a boat license to sail or register your boat, which is why we have not included NT in our statistics. However, it is essential to note if you plan to operate a vessel in the NT, you must understand the state laws, and you will be prosecuted if you do not obey them.
New Boat Vs Used Boat Statistics 2023
- New Boat Sales are increasing by 50% every year.
This significant uptick in new boat sales demonstrates the incredible demand for recreational vessels and the impact that Covid-19 has had on the market, with so many Australians choosing to purchase brand-new boats.
- Used boat sales are increasing by 20% every year.
While new boat sales have sky-rocketed, used boat sales continue to increase steadily, which is excellent news for anyone hoping to sell their old vessel in 2023. This trend also indicates the attainability and affordability of boat ownership.
- 75% of all registered boats in Australia are more than 10 years old.
To see that three-quarters of all Australian vessels are older than ten years showcases the longevity and durability of modern-day boats. This statistic also speaks to the importance of proper boat maintenance and care.
- In one year, there were 18,500 new boat registrations across Australia.
Almost 20,000 new boat registrations in the space of one year is another excellent indication of the thriving marine industry in Australia. To see this level of new boat sales and registrations is very positive for anyone in the Australian boating community.
Boat Sizes, Vessel Type and Consumer Preferences in 2023.
- 85% of all boats registered in Australia are under 6 metres in length
The fact that a whopping 85% of all boats registered in Australia were less than 6 metres long highlights Aussie’s love for recreational sailing. The preference for smaller boats also highlights the affordability and versatility of vessels under 6 metres.
- Over 90,000 personal watercrafts (PWCs) were registered, and PWC ownership grew by 29.2% in 2 years.
In the last two years, personal watercraft (PWC) ownership in Australia has sky-rocketed, and it is the country’s fastest-growing sector of powered vessels. PWCs, such as jet skis, offer an easy, agile, and exhilarating method to explore the outdoors and spend a day on the water.
- Apart from PWCs, ownership of boats between 4 and 6 metres grew the most, at 12.7%.
Boats between 4-6 metres are perfect for recreational sailors who love to cruise around the harbour or spend a day at the lake, so it is no surprise to see this growth between 2021 and 2022. A boat this size perfectly combines the affordability of a smaller vessel while also offering a comfortable experience out on the water.
- Boats less than 4m long were the only size in Australia to decline in registrations.
Despite their affordability and the fact they are easy to dock and transport, smaller boats less than 4 metres long (but not classified as PWCs) were the only sized vessel to decrease in registrations in Australia between 2021 and 2022. This trend further indicates the affordability of larger vessels and people’s preferences to purchase new, modern models rather than smaller, used boats.
- 62% of registered boats in Australia are aluminium, and 33% of vessels are fibreglass.
Most boats in Australia are made from either aluminium or fibreglass. However, the iconic aluminium tinny has cemented itself at the top of the pile and is still the most beloved boat in the country. At 62%, almost two-thirds of all boats are made of aluminium because this material is durable, lightweight, and provides a smooth ride for those on board.
- 70% of recreational boats are used for some type of fishing
For decades, fishing has been a favourite past-time of Aussies across the country, so it’s no surprise to see 70% of recreational boats being used for fishing.
The Cost of Boat Ownership in Australia in 2023
- An average motorised, cabin-free fishing boat in Australia will cost between $15,000 and $35,000.
Most people on the market for a new boat in Australia are looking for a comfortable vessel to take out on the water for the day with their family or a few friends. As we’ve seen in recent studies, this flexible and affordable option is extremely popular and will continue to sell well in 2023 and beyond.
- Boat registration in Australia will cost between $70 and $875 annually.
The boat registration cost varies state by state, but in 2023 you can expect to spend somewhere between $70 and $875 depending on your location and the size of your vessel.
In Western Australia, it costs $140 to register any boat less than 5 metres and $875 for any vessel that is more than 20 metres, with prices ranging in between. In New South Wales, it costs $70 for boats up to 3 metres and then $11 for every half metre after that, to a maximum cost of $702.
- Middle-class Australians are more likely to have a boat in their home than upper-class Australians.
A recent study showed that middle-class Australians in socioeconomic quintile C are more likely to own a boat than upper-class Australians in quintile AB, which is a fascinating insight into the affordability of boat ownership in 2023, and the widespread appeal of owning a vessel in Australia.
Electric Boat Statistics 2023
- Electric boats make up only 0.1% of all registered vessels in Australia.
While we are making significant strides in Australia regarding electric vehicles and other environmentally friendly alternatives, the electric boat market still needs to grow. It only makes up 0.1% of the market, with less than 1,000 boats registered with an electric engine. However, once electric boats are more affordable and readily available, we will see more and more Australians opting to go electric on the water, as well as on the roads.
- The global electric boat market will grow from $8.1 billion in 2022 to $27.3 billion by 2032.
While this is a global prediction, it is still fascinating and relevant for anyone interested in boat ownership in Australia. In Australia, 2.5 million people hold a boat license, and our people are strong adopters of electric vehicles. So, the learnings from recent studies strongly indicate that we will see a significant increase in the number of electric boats produced and purchased across Australia in the next few years.
The Future of Boat Ownership in Australia
Boat ownership in Australia reached new heights in 2023, and the data suggests this will only continue. As the nation continues to embrace the joys of water-based activities and boating, more Aussies continue purchasing boats, whether brand new or used.
The excellent news for anyone looking to buy a vessel in Australia is that they have multiple options in size, design, and cost. Additionally, boat financing means that boat ownership is more accessible and affordable to the masses than ever. Over the next few years, it will be interesting to see the increase in electric boat ownership and how much of an uptake we will see from Australians. However, gasoline, ethanol and diesel are still used by 99.9% of vessels today.
Whether you’re a marine professional or on the market to purchase your first boat, understanding the statistics in this article regarding boat ownership is vital for you to make an informed decision on the boating market. If you need help financing your boat or are curious about your different finance options when purchasing a boat, contact our team of marine experts at Credit One. With multiple years of helping Australians get out on the water, we are here to help you do the same.
