Press Coverage

News.com.au: Renovators paying the price for property boom

Written by Bettina Diaz | Aug 20, 2015 3:33:00 AM

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.

Read the full article here.