Work dips for trades, with 20% decrease in job value

Posted: Thursday, February 1st, 2024

There was a steep drop in trade jobs over the past year, with a 20% drop in the value of jobs given the go-ahead, according to data analysis.

Data, from field management software specialist Workever, shows that the average quote value dropped by 6.5% in 2023 compared to 2022’s data, with the value of quotes given the green light by homeowners dropping by nearly £500, an average of 20%.

Data analysed from more than 500 companies and sole traders also showed that average invoice values have dropped by nearly 10% too, with invoices for tradespeople such as plumbers, heating engineers and electricians averaging £748 in 2023, compared to £829 a year earlier, despite rising costs and overheads.

Worryingly, invoices are also being paid more slowly with tradespeople waiting an average of 31 days to get paid compared to 29 days in 2022, as well as a nearly 2% increase in unpaid invoices.

Damien Knight, CEO and founder of Workever, says; “These statistics are concerning as we go into 2024. Whilst there’s been a dip in the housing market due to mortgage rates, the expected resulting boost in ‘don’t move, improve’ work for tradespeople doesn’t seem to have translated.

“Having worked in the trade myself, we tend to work largely on the go, and it’s easy to lose track of jobs quoted or even those completed without a centralised log of everything."

Work dips for trades, with 20% decrease in job value

Posted: Thursday, February 1st, 2024

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