Australians buying and selling second-hand goods to stretch the household budget have added $18 billion to the economy, a report has found.
And the resale value of unwanted and unused goods lying around homes could equate to nearly $44 billion, according to research conducted by classifieds website Gumtree.
In the past year, Australians earned $2874 per person on average by selling second-hand goods, adding a potential six per cent to their average yearly income, the report revealed.
“It’s an interesting social movement from people and a reaction to the tougher economic times we find ourselves in,” Gumtree spokesman Nat Thomas said.
The report estimates there are 23 unused items in each household across the country, while one in five homes have 40 or more items they don’t use or want.
Books, clothing and electronics are the most popular items changing hands, Mr Thomas said.
“People are selling everything from property to cars to business services, fashion, anything you no longer have a need for,” he said.
Despite the millions of hoarders, more Australians were taking advantage of the second-hand economy, with gumtree.com reporting its sales grew 143 per cent over the last year.
Mr Thomas expected the surge to continue, with the second-hand economy up from $13 billion last year to $18 billion this year.