Decline On Residential Construction Resulted To Lower Rates For Tradesmen

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If you are planning to hire a plasterer in Sydney, now it the best time to do so. According to data in New South Wales, the rates of tradesmen in the area have decreased by around 8 per cent. This would be the ideal time to do the much needed home renovation.

In a quarterly report published by the Tradie Price Index through Service Seeking’s website, the average rate per hour of a painter is $43.70. They are considered to charge the least out of all skilled workers.

Tilers have been impacted the most because their hourly rate have decreased by 13.9 per cent which sets them back to earning only $46 per hour. They are now considered to be the second cheapest of tradesmen.

The skilled workers based in New South Wales are now earning about $58.06 which is 4 per cent lower compared to $60.55 which is the national average. Their average rate have decreased by 7.5 per cent in just a single quarter while last year their earnings dropped by 6.2 per cent.

According to Jeremy Levitt, the chief executive of Service Seeking, the decrease in the hiring cost of tradesmen can be attributed to the lower demand of renovation services from homeowners.

Real estate agents have also said that the lower demand resulted to the decrease of the housing sector’s stock price.

In a typical setting, there is a high demand for tradesmen during the season of buy and sell in real estate because homeowners are renovating before they sell or they are fixing their newly bought property.

The index based their report on the 52,000 quotes that were submitted to them as samples. These are quotes from the months of January to March. The participating skilled workers are all working in renovation and construction such as landscaping, plumbing, electrical, paving, plastering, painting and tiling.

Mr. Levitt added that competition is another factor that shifted the earnings of tradesmen. Unlike the number of plasterer in Sydney, painters have the highest competition along with tilers in New South Wales. The level of competition at these fields are 86 and 28 per cent.

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