The war in Ukraine and lockdowns in China have sent the price of home improvement through the roof and tradies are coming up with new ways to keep renovation costs down.
Supply chain issues have led to an exponential increase in the price of timber, metal and petrol, making home improvement projects more expensive to complete as demand skyrockets following Covid.
Despite this, the majority of tradies have tried to keep price hikes to a minimum by finding different ways to manage their businesses.
A report from hipages shows 85 per cent of tradies across the country are needing to charge more to cope with higher overheads but the majority are capping increases at 10 per cent.
Over the last year, the cost of timber board and joinery has increased by double this amount, with raw materials up 20 per cent.
Metal products used in home construction have gone up more than 16 per cent.
It comes as over one third of homeowners plan to fix up their properties in the next six months, with 68 per cent needing essential repairs and maintenance.
The Tradie Trends Report shows 59 per cent of tradies were exploring more affordable materials to keep costs down for customers while 38 per cent were travelling smaller distances between jobs to save on petrol.
hipages chief customer officer Stuart Tucker said surging petrol prices and increases to the minimum wage were affecting tradies.
“Virtually all of their costs are going up,” Mr Tucker said.
He said Covid had led to reduced capacity in factories across the world as well as shipping delays while the war in Ukraine had fuelled higher prices at the bowsers.
“All of those factors have had a big impact on the materials tradies use everyday across all categories,” he said.
Sydney plumber Justin Leveline from Leveline plumbing said the costs for raw materials had gone up about 30 per cent “across the board.”
“I’m in the renovation game,” Mr Leveline said.
“I am seeing price rises in absolutely everything – from pieces of gyprock to pieces of aluminium, pieces of copper, pieces of timber – everything has gone up in regards to the building trade.”
He said he has needed to change the way he operates in addition to charging more.
“I’ve had to restructure the company,” he said.
“One way I have done that is try to stick to my 10 km radius without spending on tolls and extra fuel,” he said.
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