Buildxact's reporting shows there were 32,463 quotes on its platform in the third quarter, an increase of 31.7% from the second quarter.

The platform's subscriber growth in that time also grew 21%. 

September's win rate is down from July's - which was 17.71% - with just 1,338 jobs won out of more than 10,000 quotes.

Throughout the second and third quarters, renovations accounted for 50% of all projects, and since July, average quote value has been above $150,000 - above the HomeBuilder renovation threshold.

The average time taken for a quote to convert to a win is about 50 days.

Building a home? The table below features construction home loans with some of the lowest variable interest rates on the market. 


VariableMore details
  • 10% deposit minimum
  • Up to 30 yrs loan term
  • Interest Only during construction – Solar Construction 90

  • 10% deposit minimum
  • Up to 30 yrs loan term
  • Interest Only during construction
VariableMore details

Great Southern Bank – Basic Variable Owner Occupier Construction (LVR ≤ 70%)

    VariableMore details

    Qudos Bank – Construction Home Loan (LVR < 80%)

      VariableMore details

      Geelong Bank – HomeBuilders Loan (Interest Only) (LVR < 80%)

        VariableMore details
        • Interest-only during construction
        • No monthly or ongoing fees – Construction Home Loan (LVR < 90%)

        • Interest-only during construction
        • No monthly or ongoing fees
        VariableMore details

        La Trobe Financial – Construction Home Loan

          VariableMore details

          Gateway Bank – Construction Home Loan

            Important Information and Comparison Rate Warning

            Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of December 8, 2023. View disclaimer.

            September also represented a year-to-date peak of average quote value at $175,711. 

            Per builder, the average number of quotes won was 2.8 in September, down from a high of 3.0 in May.

            Buildxact CEO David Murray said tradies could also get a boost in the lead up to Christmas.

            "As people have been restricted with domestic and overseas travel and are needing to spend more time at home, many are choosing to put their holiday budget towards renovations and home improvements instead," he said.

            “Growth in profit margin suggests that builders have sufficient work and are not under pressure to reduce prices. Profit margin is also helped by the fact that there is more demand for renovations than new builds. Renovations attract a higher margin."

            The third quarter average profit margin rose to 14.2%, up from 13.8% in the second quarter. 

            Profit margin peaked in August at 15.09% and lowered to 14.06% in September.

            The state of Victoria's trades industry

            Despite strict lockdowns, Victoria also outpaced average quote values, with an average of $275,072 in the third quarter.

            The next-closest was Tasmania at $230,449. 

            However, the lockdown also caused a reduction in the number of quotes after July, and average quotes per builder was just 14.7 in Victoria, much lower than states not so affected by COVID-19.

            Western Australia's tradies saw an average of 19.7 quotes, South Australia 17.9, and Queensland 16.6.

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