A new analysis by Compare the Market shows that Australians may be spending far more on their hobbies than they realise, echoing Allianz research showing nearly half of young Australians don’t know how much they spend on their hobbies.1
To dig deeper, an analysis of the initial, ongoing and upskilling expenses of 25 hobbies identified the most and least cost‑intensive.
Key findings:
- Woodworking ranked most expensive, costing $700.07 upfront, $752.47 annually, and $456.14 for skill development.
- DSLR Photography requires the highest initial outlay of all hobbies at $1,611.21.
- Digital art has the third-highest ongoing costs, totalling $1,014.64 per year.
- Knitting and drawing prove that hobbies don’t need to be costly, with annual costs under $75 for both.
- Stamp collecting remains accessible, with no upskilling cost and just $76.01 to start.
| Rank | Hobby | Initial cost | Participation cost | Skill cost | Index score/10 |
| 1 | Woodworking | $700.07 | $752.47 | $456.14 | 8.91 |
| 2 | Photography | $1,611.21 | $673.05 | $207.01 | 8.62 |
| 3 | Digital art | $776.75 | $1,014.64 | $78.46 | 8.37 |
| 4 | Electronics | $144.42 | $840.81 | $414.42 | 7.54 |
| 5 | Pottery | $101.25 | $1,921.02 | $239.29 | 7.54 |
| 6 | Glasswork | $364.87 | $641.23 | $183.23 | 7.21 |
| 7 | Sewing | $544.06 | $549.90 | $147.80 | 7.12 |
| 8 | Vlogging | $277.15 | $563.75 | $277.56 | 6.87 |
| 9 | 3D printing | $641.80 | $348.33 | $51.96 | 6.17 |
| 10 | Trading cards | $48.91 | $2,195.78 | $16.25 | 5.50 |
| 11 | Drums | $559.21 | $279.75 | $68.78 | 5.04 |
| 12 | Jewellery making | $151.94 | $295.50 | $88.21 | 4.75 |
| 13 | Violin | $396.99 | $281.88 | $56.17 | 4.58 |
| 14 | Embroidery | $72.94 | $303.13 | $124.28 | 4.25 |
| 15 | Model trains | $417.87 | $236.64 | $18.31 | 3.91 |
| 16 | Keyboard | $467.94 | $179.95 | $56.33 | 3.87 |
| 17 | Coin collecting | $106.89 | $307.55 | $0.00 | 3.83 |
| 18 | Model building | $82.26 | $330.48 | $0.00 | 3.79 |
| =19 | Painting | $77.74 | $246.16 | $91.83 | 3.58 |
| =19 | Guitar | $344.27 | $176.09 | $85.46 | 3.58 |
| 20 | Astronomy | $324.92 | $137.77 | $69.13 | 2.79 |
| 21 | Calligraphy | $26.88 | $156.75 | $126.99 | 1.96 |
| 22 | Stamp collecting | $76.01 | $204.41 | $0.00 | 1.87 |
| 23 | Drawing | $36.57 | $65.95 | $171.01 | 1.83 |
| 24 | Knitting | $61.24 | $64.76 | $73.81 | 1.21 |
Adrian Taylor, Executive General Manager – General Insurance, says it is important to ensure hobby tools, materials/equipment are properly protected.
“Hobbies can bring a lot of joy, but unexpectedly replacing the equipment behind them certainly doesn’t,” Taylor said.
“For many Australians, hobby gear is far more valuable than they think. That’s why reviewing your home and contents insurance is crucial as it can help safeguard your belongings from damage, loss or theft, so you’re not left footing the bill alone.”
For more information on this analysis, visit: https://www.comparethemarket.com.au/home-contents-insurance/features/most-expensive-hobbies/
