South East Queenslanders in need of a new fridge, washing machine, dryer or microwave could be forking out even more this year, with Compare the Market research showing the price of many popular whitegoods have skyrocketed compared to 2021.
Compare the Market analysed the price of 10 popular whitegoods, including washing machines, dishwashers, fridges, dryers, microwaves, toasters and ovens, and found price increases in 80% of the items we compared.
The price of just one item analysed remained the same between 2021 and 2022 – Solt’s 6kg Front Load Washer. Meanwhile, LG’s 8kg Heat Pump Dryer is actually $1 cheaper in 2022 than it was last year.
However, other items from a variety of brands saw increases of between 0.11% and 35.50%, a worrying trend given that prices are soaring across the board as the cost of living increases across Queensland.
|Product||September 2021 price||July 2022 price||Price difference||Percentage difference|
|Solt 6kg Front Load Washer (GGSFLW60)||$398||$398||0||0|
|LG QuadWash Platinum Steel TrueSteam Dishwasher (XD4B24PS)||$995||$1089.00||^$94||^9.44%|
|CHiQ 202L Top Mount Refrigerator (CTM200NW)||$398||$499||^$101||^25.37%|
|Fisher & Paykel 10kg Top Load Washer (WL1068P1)||$1,448||$1,799||^$351||^24.24%|
|LG 8kg Heat Pump Dryer (DVH5-08W)||$1,649||$1,648||-$1||-0.06%|
|Haier 7.5kg Front Loader Washer (HWF75AN1)||$599||$749||^$150||^25.04%|
|Samsung 649L French Door Refrigerator (SRF7100B)||$2,795||$3,199||^$404||^14.45%|
|Westinghouse 60cm Multifunction Oven Stainless Steel (WVE612SCP)||$848||$849||^$1||^0.11%|
|Samsung 40L 1000W Microwave White (ME6144W)||$169||$229||^$60||^35.50%|
|Kambrook 2 Slice Cool Touch Toaster (KTA120WHT)||$34.95||$39||^$4.05||^11.58%|
2021 prices were taken from prices advertised in The Good Guys catalogue between 2 Sep – 8 Sep 2021. 2022 prices were taken from The Good Guys online website on 13 Jul 2022.
Compare the Market’s Chris Ford said a number of factors are pushing up the price of whitegoods across the state.
“People can expect to fork out hundreds more in some cases for the exact same brand and model of whitegoods compared to last year, which is going to hurt the hip pocket of Australians who are already struggling to keep up with the rising cost of living,” Mr Ford said. “A number of factors have contributed to this perfect storm.
“We know that the COVID-19 pandemic isn’t over, and this is continuing to cause supply chain disruptions here in Australia, as well as overseas. For example, some factories in China have only just reopened after their latest round of lockdowns, meaning there’s been a delay in supply reaching Australian shores.
“Parts needed to make items like fridges and washing machines are also in short supply, which is causing further delays and driving up the price of stock that’s already available in Australia.
“It’s also costing retailers a lot more to obtain stock from overseas due to rising transportation and delivery costs so unfortunately, many retailers have no choice but to pass these costs on to customers.
“And, just as we’ve experienced rising electricity costs at our homes, it’s costing manufacturers even more to make the products we use, which is also causing prices to soar.”
Mr Ford said that because of rising prices in stores, customers might also see the cost of second-hand goods increase.
“We’ve already seen the cost of used cars increase dramatically because supply is short,” Mr Ford explained. “Shoppers may also notice sellers upping the price of their second-hand fridges, washing machines and other whitegoods because demand is high at the moment. It’s a worrying time for many Australians.”
While prices have increased across the board, Mr Ford said there were still ways for Australians to hunt down good deals.
“We know that stores run specials every week and many offer promotions and cash-back incentives which can lower the price of whitegoods, appliances and other electronics,” Mr Ford said. “Some stores also price match, so if you find the same product advertised cheaper elsewhere, they may be able to match or beat it.
“Some retailers will also lower the price if you pay in cash, while the price for similar products can vary significantly between brands.
“It’s really important that all Australians do their research and compare prices before making a purchase, so you don’t spend more than you need to. Prices can and do vary between stores, but spending a bit of time planning could save you in the long run.“
For more information, please contact:
Chris Ford | 0411 560 116 | [email protected]
Phillip Portman | 0437 384 471 | [email protected]
Compare the Market is a comparison service that takes the hard work out of shopping around. We make it Simples for Australians to quickly and easily compare and buy insurance, energy, travel and personal finance products from a range of providers. Our easy-to-use comparison tool enables consumers to find products that best suit their needs and back pocket.