Realestate.com.au: Renovation costs up more than 8% in NSW

In this article, realestate.com.au delved into the escalating costs of renovations in New South Wales (NSW), shedding light on the implications for homeowners and tradies alike.

ServiceSeeking.com.au was featured as we offered data and trends shaping the renovation landscape in NSW.

Key Points:

• Renovation costs in NSW have surged by over eight per cent, with tradies charging an average of $62.90 per hour.
• The renovation boom is attributed to factors such as increased borrowing for home alterations and additions, as evidenced by seven-year highs in lending finance figures.
• Plumbers are the most expensive tradies in NSW, charging $83.60 per hour, followed closely by electricians at $77.50 per hour.
• Despite fluctuations in rates, builders remain eight per cent more expensive than last year, while NSW carpenters, though witnessing a yearly drop, still command some of the highest hourly rates in the country at $62.10.
• The surge in renovations is viewed positively by tradies, who stand to benefit from higher rates amidst the renovation frenzy.

Read more: https://www.realestate.com.au/news/renovation-costs-up-more-than-eight-per-cent-in-nsw/