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Building trades in high demand

Homeowners hoping to renovate or build are being warned this week of a shortage in availability of skilled tradesfolk – because they’re all flat out with more work than they can handle.

The latest HIA Trades Report shows that the Trades Index declined from -0.69 to -0.84 in the December 2021 quarter, with any number below zero indicating a skills shortage.

HIA Economist, Angela Lillicrap attributes the results to a boom in detached house construction and renovations that has seen demand for land, labour and materials skyrocket.

“These constraints have pushed out construction timeframes”, Lillicrap said, adding that greatly-reduced skilled migration has added to the pressure.

“As a result, skilled trades are expected to be in high demand throughout 2022 and into 2023.”

All trades recorded a deterioration in availability during the December 2021 quarter. Bricklaying, carpentry, joinery, roofing, general building and other trades have reported the most severe shortages on record.

The shortage is impacting most regions, although Brisbane, Regional Queensland and Regional Western Australia reported a small quarterly improvement in the availability of trades.

“These small improvements reflect quarterly volatility, not a material improvement in the supply of trades. All areas continue to report a severe shortage of skilled trades”, Lillicrap concluded.

The HIA Trades Report provides a quarterly review of the availability of skilled trades and any demand pressures on trades operating in the residential building industry.

About Adam Nobel

Principal
M. Bus, Grad Dip Adv, B.Int Bus, LREA

adam@hugoalexander.com.au

0417 007 001

Adam is the founder and Principal of Hugo Alexander Property Group. With a previous career in advertising, 20 years experience in property investment, and 14 years in Brisbane real estate, he knows the market inside out to ensure his clients grow their wealth faster.

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