Trade Price Variations
Understanding the local variations in tradie costs gives developers insight into why your construction cost might be higher than a similar project in the neighbouring region. It will help you budget accordingly and avoid surprises when tenders come in. Seeking Services provides an excellent Tradie map for NSW highlighting the wild variations in locations.
Melbourne is a more affordable area to build and this is reflected in their trade prices being the lowest of the three eastern state capitals. The inner and inner eastern suburbs are the most expensive areas to get trades in Melbourne. However VIC plumbers and electricians are in the top 10 hourly rate trades in Australia. VIC building and renovation prices have increased 9.1% over the year.
Brisbane has seen build costs increase rapidly over the last two years. QLD wide costs for tradies went up 9.12% when comparing the last quarter. This could be more for the busy SEQ area. While Brisbane has cooled growth in projects in the Gold Coast has kept prices going up. The accessibility of SEQ reduces the pockets of wild variations in costs you see in Melbourne and Sydney.
In the Spotlight: Epping
We have been working on a lot of projects in Epping and the surrounding suburbs. Our ‘Epping in the Spotlight’ article provides information on construction costs, local activity and development insight for the area.
Changes in Insurance
As of January 1st 2018 it became law that new players (providers) can enter the Home Warranty Market and compete against the NSW Government. We know the first to be registered and our builders will be benefiting from increased volunes of cover. Email us to find out more.
The new Building Bond was introduced this year in NSW and applies where a developer and builder enter a contract from Jan 1st 2018. This is a levy of 2% of construction and the developer must lodge for it. It applies to building work of resi and partial resi strata properties that are more than four stories. Plenty of conjecture over this change.
This article link has some good info on the scheme.
Our Builder Network is Improving
We are continually in touch with the market. This means our network of builders is improving all the time. We have excellent new up and coming builders, experienced builders taking on bigger projects and others moving into new areas and markets.