The Housing Industry Association trades report found the availability of skilled trades workers eased slightly during the September quarter but the remained close to the lowest level on record which led to the rapid increase in pay.

Bricklayers and carpenters were trades with the most severe shortage.

Talent.com said the average wage for a trades worker was about $68,000 but experienced workers earn up to $97,000.

HIA said there were currently 104,000 houses under construction in Australia, a record high and 81 per cent higher than pre-Covid levels. Renovation activity has also increased to record levels.

The elevated demand was likely to remain the case until 2024.

HIA senior economist Nicholas Ward said there were two bits of good news for the sector.

“Firstly, the number of apprentices in trade occupations was 27 per cent higher in the March quarter in 2022 than the March quarter of 2019, driven by government subsidies and high demand,” Ward said.

“As these young workers develop proficiency, they will help the industry work through the large pipeline of work that has built up.”

Also, the Budget indicated that net overseas migration was returning much more quickly than previously expected.

“This likely reflects both strong desire from foreigners to live and work in Australia and some reluctance by Australians _ relative to pre-pandemic _ to live and work overseas,” Ward said.

“This improving source of labour supply will help builders and other businesses with the labour shortages that have been exacerbated by the pandemic.”