We’re seeing a few signals across a variety of sources that suggest house price values and consumer sentiment have correlated with demand for trades.
- New homeowners are purchasing less-than-perfect homes amid low housing supply, with the rationale of doing improvements – almost immediately
- Existing homeowners are spending freed up equity on larger renovation projects.
- Average job values have risen by 19% over the past three months
- Homeowners who have just bought a house are posting jobs wanting a wide range of improvements: from new carpets and double glazing; bedroom, ensuite and wardrobe additions; all the way through to bathroom remodels and home extensions.
New Zealand Business Confidence Index
- The October ANZ New Zealand Business Outlook has reported construction is the most optimistic sector — with the residential construction continuing to bounce back
- 14% of residential construction firms expect higher activity over the next month.
Trade Categories Experiencing Good Demand
One observation we’ve made over the past three months is that the supply-to-demand ratio is strong for the following trades:
- Fencing & Gates
- Landscaping / Gardening
- Painting & Decorating
- Glazier & Windows
- Appliance Repairs
- Carpet Laying
- Architecture and Design
Key takeaway: If you’re seeing this demand play out first hand, it can be a great opportunity to have the conversation about jobs being scheduled and commenced after the break, seeing as similar trade schedules may be equally full.
While the future outlook of the trade sector will depend on a multitude of factors, we’re working hard on continuing to grow our supply of work. As always, we encourage our members to leverage Builderscrack to lock in work both now and into the New Year.