Melbourne's renovation industry is experiencing the financial repercussions of the city's property boom, with the cost of hiring tradesmen soaring.
A survey conducted by the online platform ServiceSeeking.com.au sheds light on the escalating expenses, revealing notable increases in hourly rates across various trades.
Here's a concise overview:
- The average cost of hiring a tradie in Melbourne surged by 6.5% in 2015, reaching $58.56 per hour.
- ServiceSeeking.com.au's Renovation Consumer Price Index surveyed 52,000 quotes across ten popular renovating areas.
- Plumbing emerged as the most expensive trade, witnessing a substantial 7.9% increase to nearly $75 per hour.
- Electricians' rates also rose by 1.7% to $68 per hour.
- Flooring and landscaping were the only trades to experience price drops, falling by 7% and 5%, respectively.
- The price increase is attributed to a decrease in tradies submitting quotes, coupled with a surge in job listings, reflecting heightened demand amidst the property boom.
- ServiceSeeking.com.au's CEO, Jeremy Levitt, highlights the trend, indicating that tradies are adjusting prices due to increased demand and workload.
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