(August 4, 2016) Uncertainty around the housing market has affected the cost of renovating in NSW with costs rising by just 0.8 per cent in the past year.
With the national Consumer Price Index showing a 1.0 per cent increase for the same time period, NSW costs have fallen behind rising living costs according to stats released by ServiceSeeking.com.au.
The state average for a tradie has stabilised at $60.25 an hour, 2.3 per cent less than the national average of $61.65, meaning it’s a great time to get stuck into your renovation plans.
ServiceSeeking.com.au CEO Jeremy Levitt said; “If you’ve been dreaming of a new kitchen, bathroom, entertaining area or applying a new coat of paint to your house, then now is the time to take advantage of a slowing down in home renovation prices.”
It is cheaper to renovate in NSW than Western Australia ($67.34 up 1.8 per cent) and Queensland ($63.14 up 4.4 per cent). Victoria is the cheapest and the only state to record a drop in prices by 2.2 per cent to $57.28.
The trades which bucked the trend in NSW were carpentry (up 11.3 per cent on the national average at $62.83 an hour) and painting (where prices were 10 per cent higher). Other big price changes affected electricians – who were 9.4 per cent cheaper in NSW than the national average – and plumbing at 4.2 per cent cheaper.
The prices were derived by comparing 52,000 quotes submitted through the online services marketplace during the FY16 Q4.
To view price changes across 10 popular renovation services around the country, see www.serviceseeking.com.au/renovations