Tradies Set To Cash In On Australia’s Renovation Nation

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Updated: April 23, 2019

With a downturn in new residential construction, thanks to the recent crackdown on home loan approvals, the home renovation market could be set to boom.

The Housing Industry Association (HIA) is predicting home renovations will grow considerably, with an estimate of 0.4% growth for 2018 to increase to 4.9% in 2019, meaning tradies could still be in for a ripper of a year.

In fact, Master Builders Australia (MBA) is forecasting Aussie homeowners to spend a whopping $8.8 billion annually over the next five years. Ka-ching!

Don’t Miss Out

This, combined with a skill shortage for construction trades in Australia, shows there will be plenty of opportunities for plumbers, bricklayers, carpenters, tilers, plasterers and tradesmen of all kinds.

So, to ensure your business doesn’t get left in the dust, now’s a good time to make it stand out in the crowd by ensuring you have a schmick-looking website with your contact details clearly displayed, listing your business in online directories (many of them are free),  and having a social-media presence to help drive traffic to your site and showcase your awesome work.

Compare, Insure And Save

Don’t forget to make sure your business insurance is up-to-date and you have adequate cover. Public-liability insurance can save your bacon in the event you or your employees are held liable for personal injury to your clients or members of the public, or if you cause accidental damage to their property as a result of your work. You should also consider cover for your tools in the event they’re damaged,  lost or stolen. Insurance can be cheaper than you think and it can save you from losing your business,  home and other assets in the event of an unexpected disaster.

This information is general advice only and doesn’t take into consideration your particular objectives, financial situation or needs.

Before making a decision please consider the relevant Policy Wording. BizCover™ Pty Ltd (ABN 68 127 707 975; AFSL 501769). © 2018 BizCover

For more information to compare, insure and save on your tradie insurance visit http://BizCover.com.au