Renovation prices up

The cost of getting your old kitchen renovated has increased according to a new report. Picture: Anita McInnes

WESTERN Australia’s continuing labour shortage has driven up the cost of renovating your home by 6.5 per cent compared to last year, a new report reveals. The Renovation Consumer Price Index is a quarterly report released by analysing 52,000 quotes submitted by tradesman on the website.

Chief executive officer Jeremey Levitt said the latest RCPI compared the cost of renovating in last quarter of the 2015 financial year versus the prior year. Mr Levitt said to support the release of the RCPI, had created an interactive map that plotted price changes across 10 popular renovation services in Western Australia year on year – “The interactive pricing map highlights an increasing demand for home renovations relative to the supply of tradesmen across the state” he said.

“There is still a relative skills shortage in WA as excess demand in the renovation sector outstrips the supply of local tradespeople.” The data shows that WA is experiencing Australia’s most expensive renovation costs, with price hikes of 6.5 per cent compared to the nation’s average of 3.9 per cent. Prices skyrocketed well above national inflation of 1.5 per cent with the costs of the majority of renovation industries at record highs. The cost of tiling and paving was up 22 per cent, landscaping increased by 12.9 per cent and painting jumped up by 11.2 per cent.

WA is also home to Australia’s most expensive electricians, up 3 per cent. However it’s not all bad news, with builders dropping their prices by 9.3 per cent and plumbers down 2.6 per cent.