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In Q2 FY18 Tilers, Builders and Electricians saw decreases in their charge-out rates versus the prior year (-5%, -2% and -1% respectively). To make matters worse their charge-out rates also fell below the national average in their respective industries.
Currently, Tilers and Builders in New South Wales are facing decreasing demand for their services, forcing them to offer cheaper prices than last year to win work according to new data released by find-a-tradie site ServiceSeeking.com.au.
Jeremy Levitt, CEO of ServiceSeeking.com.au said, "Demand for renovation services has slipped since the high point last year due to stagnant and in some areas, decreasing, property prices. We suspect fewer property owners are confident that prices will continue to rise like they have over the past 7 years which makes it less likely that property owners will renovate compared to last year."
NSW continues to be an expensive state to hire a tradie with tradies across industries charging 8% more than the national average.
Who are the cheapest tradies in Q2, FY18?
· Plasterers in NSW charge $54.22/hr versus $53.02 last year, a 2% decrease.
· Tilers in NSW charge $58.33/hr versus $61.31 last year, a 5% decrease.
· Painters in NSW charge $59.63/hr versus $50.28 last year, a 19% increase.
Which tradies have suffered the worst year on year?
· Tilers charge out rates have decreased 5%
· Builders charge out rates have decreased by 2%
Which tradies have done well year on year?
· Carpenters are charging 31% more than they did last year.
· Painters are charging 19% more than last year.
Is now a good time to renovate?
We are starting to see demand for renovation services lighten in several key industries making tradies charge-out rates more affordable. However overall charge-out rates surged year on year by 11.6% so renovators need to be sure to compare quotes and prices from numerous tradies to make sure they don't end up overpaying. “The time for completing those plastering, tiling or painting jobs is now. These tradies could use a boost in income as they are finding it harder than ever to generate income,” says Jeremy Levitt, CEO of ServiceSeeking.com.au
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