The boom in residential construction on Australia’s east coast is seeing the hourly rates of many tradespeople soar, some by as much as 65 per cent.
The most expensive tradies in Australia at present are Victorian plumbers, according to The Tradie Price Index compiled by ServiceSeeking.com.au, who demand an average hourly rate of $91.21 – a 21 per cent increase from last year.
Plumbers and electricians in Western Australia come in second and third, at $89.91 and $89.58 respectively – although these rates are relatively stable compared with the previous year.
Average hourly rates for plumbers in NSW as well as electricians and builders in South Australia have also seen double-digit increases year-on-year. NSW plumbers have posted a 16 per cent increase to $85.98, while the increases are even greater in SA, up 26 per cent to $79.13 for electricians and 29 per cent to $77.76 for builders.
Yet even these steep increase pale in comparison to tilers in Brisbane, where a huge surge in demand has seen rates soar by 65 per cent to $62.18 per hour. Interestingly, tilers also have the biggest fall, plummeting by 30 per cent in South Australia to $37 per hour.
Tradespeople not seeing these kinds of dramatic changes in their hourly rates may be more closely aligned with the national average, which for all service types is down by a more modest 3.4 per cent.
It comes as ME Bank reported in August a massive upturn in loan applications for renovations and structural changes.