Reno costs show small slide

But car­pen­try, build­ing rates surged

Whitsunday Times - - REAL ESTATE | TIPS -

A NEW re­port re­veals that ren­o­va­tion costs in Queens­land fell by 0.35% year-on-year, beat­ing the na­tional av­er­age in­crease of 1.48%.

The Ren­o­va­tion Con­sumer Price In­dex (RCPI) is a quar­terly re­port re­leased by Ser­viceSeek­ analysing 52,000 quotes sub­mit­ted by trades­men on the web­site.

The lat­est RCPI com­pares the cost of ren­o­vat­ing in Q2 FY16 ver­sus the prior year.

To sup­port the re­lease of the RCPI, Ser­viceSeek­ has cre­ated an in­ter­ac­tive map that plots price changes across 10 pop­u­lar ren­o­va­tion ser­vices in Queens­land year on year – www.ser­viceseek­­o­va­tions/qld.

Land­scap­ing, plas­ter­ing and paint­ing were among the pop­u­lar ren­o­va­tion in­dus­tries to ex­pe­ri­ence a sig­nif­i­cant price drop, re­spec­tively de­creas­ing by 5.92%, 3.97% and 0.78%.

“Steady growth and de­mand for trades­men kept the home ren­o­va­tion mar­ket in Queens­land roughly in line with av­er­age prices charged across Aus­tralia,” said CEO Jeremy Le­vitt.

Al­though there was a de­crease over­all,

...there are still op­por­tu­ni­ties for home­own­ers to ren­o­vate at fair prices

CEO Jeremy Le­vitt

Queens­land home­own­ers found they were still pay­ing 5.4% more than Vic­to­ri­ans.

The cost of hir­ing a con­creter rose by 22.4% com­pared to the same time last year, ris­ing to $65.82/sq m.

Car­pen­try and build­ing rates also in­creased, surg­ing by 10.41% and 1.8% re­spec­tively.

“While there is a short­age of skilled trades­men in some ser­vices in Queens­land caus­ing prices to rise, there are still op­por­tu­ni­ties for home­own­ers to ren­o­vate at fair prices,” Mr Le­vitt said.

With more than 1.96 mil­lion jobs listed on Ser­viceSeek­ to date and over 6.8 mil­lion quotes com­pared, the lat­est find­ings pro­vide a strong in­di­ca­tion of ren­o­va­tion costs.

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