Young Australians who take up a trade can be at least $50,000 better off during training compared with pursuing a university degree, according to analysis by the Housing Industry Association (HIA).

HIA executive director – future workforce Mike Hermon says apprentices benefit financially by earning while they train and accessing fee-free TAFE: “This is a significant benefit to young people who are not then burdened by a HECS debt when they have completed their qualification.”

The analysis shows that while the typical period of study and expected market wage of an accountant and a carpenter are similar, wages and study costs create a clear financial advantage for those pursuing a trade during their training years.

Workforce shortages remain one of the biggest constraints on increasing home building activity, with demand for qualified trades expected to continue as Australia tackles chronic housing shortages.

“With the national focus on addressing Australia’s chronic housing shortages, demand for qualified trades is likely to continue for the foreseeable future,” Mike says.

“Many tradespeople use their apprenticeship to progress their career into other related roles. Today’s apprentices are tomorrow’s carpenters, builders and project managers.”

The HIA says that trade qualifications can also offer long-term financial and job security benefits, with earning potential equal to or higher than some university graduates and lower exposure to AI-related job losses than many white-collar roles.