(January 23, 2017) After demand for Victorian property soared in 2016, the state has experienced a 1.7 per cent drop in the cost of renovating in the last quarter, putting the price of a Victorian tradie 12.5 per cent below the national average.
One of the few states to record an upward trend at the start of the financial year, VIC was the only state to experience a drop in tradie prices over the last quarter, according to new data released by jobs website ServiceSeeking.com.au.
“A drop in tradie prices generally means less demand in the renovation sector. While it’s still early in the year, this could mean that the spike we saw in Melbourne’s property market in 2016 could be on the way back down, making people more hesitant to renovate and sell”, says ServiceSeeking.com.au CEO Jeremy Levitt.
“December and January is always a slower time for tradies too – so renovators in VIC should take advantage of the competitive prices”.
So, as the cost of renovating takes a dip for the new year in VIC, how much can you expect to pay for a tradie in 2017?
Plumbers ($78.20) and Electricians ($73.26) still remain the most expensive trades across the state, with the average hourly rate of both trades increasing since last year by 3.3 percent and 8.9 per cent respectively.
Meanwhile, the average hourly rate of a Victorian carpenter ($50.26) has dropped 4.3 per cent over the last quarter. If you were considering building that back deck, now’s the time.
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
The prices were derived by comparing a sample of 52,000 quotes submitted during the FY17 Q2 through ServiceSeeking.com.au, the website for getting any job done from tradies to professional services.
To view price changes across eight popular renovation services around the country, including major capital cities, see www.serviceseeking.com.au/renovations
Average Hourly Rates
|2017FY Q2||2017FY Q1||% quarterly change||2016FY Q2||% year-on-year change|
|Building & construction||$58.63||$58.03||1.0%||$57.22||2.5%|
|ALL TRADES AVERAGE||$57.90||$58.89||-1.7%||$58.70||-1.4%|