Print house prices have shot up to record highs as the printing industry continues to struggle.
The prices of digital printing houses have risen by more than 10 per cent in the last year.
The latest figures from ABS show that print house costs jumped 10 per in March.
The price of a digital printing house rose 7.5 per cent to $1,967.50.
The ABS’ latest figures show that printing house prices are up 12 per cent from a year ago.
In the three months to March, prices of print houses in the major metropolitan areas of Perth, Canberra and Adelaide rose more than 8 per cent.
Photo: Simon Schluter The print house price index rose from 1,569.90 in March 2016 to 1,932.20 in March 2017.
This means that in the past year, print house prices in those areas have risen 11.7 per cent, or about 6.7 times.
In other words, print houses cost $1.5 billion more in the three years to March 2017 than they cost in March 2015.
The main reasons for print house increases have been the growth in technology and the increased availability of cheaper technology.
The print price index for the major city centres of Perth rose 14.9 per cent over the three-month period.
Photo from the ABS.
The median print house purchase price in the big cities of Perth and Canberra was $2.7 million in March, up from $1 million in February and $1 and $2 million in January, respectively.
The increase in median prices has been driven by a significant increase in the number of people seeking a print house.
The number of new print house applications has increased by nearly 2,000 in the period.
The data from the National Broadband Network also shows that a growing number of businesses are using technology to boost their revenue.
More than 7,000 digital print houses have opened in the year to March.
This has seen a dramatic increase in business growth in the print industry, particularly in Perth.
“Our data suggests that digital print house market growth has accelerated substantially, particularly at the start of the year,” the ABS’ head of digital publishing research, Mark Rundle, said.
“Digital print houses are the new frontier in the printing economy and the demand is growing faster than the supply.”
Mr Rundle said that digital printing has increased the number and speed of applications for the print market.
“The print sector is a very fast growing industry and the number that we’re seeing is the largest growth since 2008,” he said.
Photo courtesy of Mark Ruple.
Mr Ruple said that there are more digital print services now than in 2008.
“We’re seeing the print services of the digital age grow by 50 per cent,” he told FourFourtwo.
“There’s an enormous demand for print services.”
Digital print services have become the new hot item in print publishing.
Photo by David McNew/ABC News.
Digital print service companies have emerged as a major force in the sector, especially in the advertising, publishing and publishing services.
The rise of print services is a result of an increase in demand and an increase of demand in digital print.
Digital services have also created an opportunity for print owners.
“In the past, the printing market was dominated by a few companies, but now, the print business is being dominated by hundreds of thousands of companies all working together in the same space,” Mr Rump said.
For example, a digital print company may be a small company and have only one office in Melbourne.
But because it has multiple digital print locations across the country, it can be able to increase its business by employing more staff.
Digital service companies also see the print advertising market as an opportunity.
“They are becoming the major players in digital advertising,” Mr Aydelotte said.
The growth of digital print service business is a direct result of the shift in print industry demographics, Mr Rudge said.
“[Printing] is going digital,” he added.
“That’s the new thing, the digital advertising industry.
It’s a great opportunity for them.”
Mr Auldelotte says that the shift from paper to digital technology has created a massive opportunity for the paper industry.
“This is the perfect time for print, and paper is a declining industry,” he explained.
“It’s the perfect environment to get a print business that’s growing.”