The renovation boom due to high house prices has left NSW tradies cashed up, with tradie prices in NSW up 8.4 per cent this quarter.
Tradies are charging an average of $62.90 per hour, according to figures from ServiceSeeking.com.au’s Tradie Price Index.
The last Tradie Price Index, released in May, showed a drop in the cost of hiring a tradie, with an eight per cent decrease on the last quarter and 6.2 per cent decrease on last year.
In Australia, the home renovations market employs around one million people and contributes a massive $99 billion to the economy, according to ABS figures. NSW tradies are reaping the benefits from this activity and will enjoy higher wages as we move into the new financial year.
“Housing prices don’t appear to be decreasing, so people are turning to renovation in order to live in their dream home,” says ServiceSeeking.com.au CEO Jeremy Levitt.
“Tradies are enjoying the benefits of this renovation surge.”
You can expect to pay the most for plumbers, who are the most expensive tradies in the state at $83.60 per hour, an 8.6 per cent increase on last quarter.
Electricians come in second, at $77.50 per hour, a quarterly increase of four per cent.
Builders, at $66.20 per hour, are eight per cent more expensive than last year, and 18 per cent more expensive than last quarter.
Although NSW carpenters have seen a yearly drop of 14.5 per cent, they remain some of the most expensive in the country at $62.10 per hour.
“The renovation frenzy is great news for NSW’s tradies, who will benefit greatly from higher rates,” says Mr Levitt.
Hourly rates are “gross” rates and, aside from the cost of labour, also cover the cost of running the business including insurance, tools, work vehicles and superannuation.
The prices were derived by comparing a sample of 52,000 quotes submitted during the FY17 Q4 through ServiceSeeking.com.au.
