Home Extension & Renovation Cost Index
December saw the HERC Index rise by 2.3%, reflecting the annual increase in trade labour rates which typically occurs in the last month of the year. In particular, carpentry, roof plumbing, waterproofing, painting, roof tiling and electrical trades showed an average labour rate increase of 5.7%. Also contributing to the increase in the Index this month were significant price rises in timber and scaffold hire.
Overall, this latest increase means the HERC Index saw a total growth of 3.08% over the 2017 calendar year.