Tradies continue to prosper from Australia’s renovation obsession as the nation’s market for renovation services eclipses a colossal $31 billion. Competition remains tight in NSW, however, where according to ServiceSeeking.com.au prices fell across all industries last quarter, putting the cost of a tradie four per cent below the national average.
The quarterly Tradie Price Index released this week by tradie comparison site ServiceSeeking.com.au shows a drop in the cost of hiring a tradie in NSW. The average hourly rate currently sits at $58.06, an eight per cent decrease on last quarter, and 6.2 per cent decrease on last year.
“Tradie prices in NSW are being driven down by a slight cooling in the levels of demand for renovation services,” says ServiceSeeking.com.au CEO Jeremy Levitt.
“There are also increased levels of competition in some key industries, with more tradies competing for jobs. To fill their coffers, tradies have had to sharpen their prices and be more competitive. We also saw this in our latest Business Confidence survey- price pressure from competitors was the biggest reason for worry cited by NSW businesses.”
Tradies in NSW
- Plumbers are still the most expensive trade, charging on average $77.00 per hour. Although still high, the price has dropped 2.3 per cent since last quarter.
- Electricians take out second place across the state, with an average hourly rate of $74.50, a price which has increased by a dramatic 12.7 per cent since last year.
- Tilers are feeling the pinch after recording a 13.9 per cent drop in hourly rates since last quarter, currently sitting at $46/hr.
- Painters face the most competition in the state, with competition levels 86 per cent above the national average.
- Landscapers and Carpenters face the least competition in the state, sitting at 22 per cent and 46 per cent below the national average respectively.
The prices were derived by comparing a sample of 52,000 quotes submitted during the FY17 Q3 through ServiceSeeking.com.au, the website for getting any job done from tradies to professional services. Hourly rates are “gross” rates and aside from including the cost of labour, also cover the cost of running the business including insurance, tools, work vehicles, insurance and superannuation.