Renovation costs to rise as tradies charge more

The average rate is more than $65 an hour

Home buyers will have to save a little extra if they'd like to make any renovations, a new study finds. 

The extra money will go to the pockets of tradespeople, which according to comparison site Service Seeking, had hourly wages rise to $66.18.

Wages for tradespeople rose nationally by 6.7% in the second quarter of the 2017 financial year. Every state experienced a bump, besides Victoria, where average prices fell 1.4%.

The most expensive tradespeople are plumbers with an average hourly rate of $84.60. Following them were electricians, landscapers, builders (construction), carpenters, plasterers, tilers and painters. 

The only trade to became more affordable are carpenters, which charge 2.4% less at $53.79 an hour.

Driving wages up

The most expensive state to hire a tradesperson in is Western Australia, where plumbers charge $94.44 an hour, due to an undersupply, says Service Seeking chief executive Jeremy Levitt. 

“Such a big price hike comes down to a lack of supply of tradies relative to the current levels of demand. 

"For renovators in Perth right now, quote comparison is an absolute must if you don’t want to pay a fortune."

While the ongoing housing crisis in NSW is responsible for the State's 9% increase, says Levitt.

“Housing affordability in NSW is becoming increasingly dire and we’re seeing less and less properties on the market. It only makes sense that people are choosing to renovate rather than upsize to a new place."

A sample of 52,000 quotes for the second quarter of the 2017 financial year were analysed by Service Seeking to calculate the weighted average hourly rate of each trade.

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