Analysis by Hudson Contract shows average earnings for self-employed tradespeople increased to £1,017 per week during February, almost the same as the December peak of £1,044.
This followed the usual pattern of earnings dipping in January, attributed to a combination of bad weather and some sites being slow to reopen after Christmas.
Average earnings in February 2024 were 2.3% higher than in February 2023, highlighting resilience in demand for subcontractors even in a sluggish market.
Hudson Contract managing director Ian Anfield said: “It’s definitely been a tough time for the new-build housing sector and it’s very early days but it feels like things could be turning round after a downturn caused by inflation and high interest rates.
“We have seen a slight improvement in per-client operative numbers and labour rates have continued to creep up.
“Clients are telling us that work on high-rise schemes is forging ahead in London and major cities such as Birmingham, Manchester and Sheffield.
“Others are spreading their reach into new counties and taking on new clients to maintain their turnovers and avoid the impact of the major house-builders slowing production.”
|
TRADE |
January 2024 |
February 2024 |
% change |
|
BRICKLAYING |
£789 |
£912 |
15.6% |
|
CIVIL ENGINEERING |
£871 |
£938 |
7.8% |
|
DEMOLITION & WRECKING |
£914 |
£990 |
8.3% |
|
ELECTRICAL |
£1,063 |
£1,163 |
9.4% |
|
EQUIPMENT & OPERATOR HIRE |
£891 |
£978 |
9.7% |
|
GENERAL CONSTRUCTION |
£936 |
£1,025 |
9.5% |
|
INSULATION |
£1,005 |
£1,166 |
16.0% |
|
JOINERY |
£979 |
£1,120 |
14.4% |
|
MECHANICAL & ENGINEERING |
£1,019 |
£1,233 |
21.0% |
|
PLASTERING |
£827 |
£880 |
-6.4% |
|
PLUMBING |
£1,029 |
£1,242 |
20.7% |
|
£734 |
£825 |
12.4% |
|
|
SCAFFOLDING & LIFTING |
£846 |
£909 |
-7.4% |
|
SHOP FITTING |
£999 |
£1,101 |
10.2% |
|
SPECIALIST TRADES |
£869 |
£921 |
-6.0% |
|
STEEL & TIMBER FRAME ERECTION |
£855 |
£959 |
12.1% |
|
SURFACING CONTRACTORS |
£839 |
£990 |
18.0% |
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