The Housing Slump Affects Tradies More than Householders

The housing slump keeps making headlines. At the same time, the shortage of skilled tradesmen is also in the news.

Householders may wish that this would mean prices on home repairs and remodeling would fall. If there are fewer houses being built and sold, they may reason, then painters might try undercutting each other, lowering prices to get what work there is.

Look at the other factors in play, though:

• There's a shortage of skilled workers. Less-skilled workers may have a harder time finding work, but tradesmen in a competitive market know they have to have top quality to compete. With less pressure of work, it's better to have fewer, better tradesmen than to have lots of painters with lower quality skills. 
• People continue to try to sell their homes. In many cases, a quality paint job or a bit of landscaping can make the difference. Just as home decorating or repair is too competitive to allow slacking off, home sales are too competitive to allow would-be sellers to ignore their homes' appeal.
• Other people give up on selling their homes. Once they realize they'll have to stay put, they begin to think of how to make their current home closer to their ideal (sound familiar?).

For tradesmen, the housing slump may be a worry. It may clean out some of the competition, and the sense of uncertainty may make the shortage of skilled workers worse in future. For householders, though, it probably means that those who act now will be able to get an earlier appointment -- and those who wait in hopes that prices will go down will lose that opportunity.

If you're in Sydney, call Courtney & Wise at 9958 1099. As Master Painters, having served Sydney and the Northern beaches for two generations, we have no shortage of skilled painters.