Victorian tradies lose millions as tool theft costs soar

Victorian tradies are losing an estimated $38.2 million worth of tools each year, according to new analysis of Victoria Police crime data by OCAM 4x4 Accessories.

While reported tool theft incidents have nearly halved since 2017, the average value of each theft has more than doubled, pushing annual losses to near-record levels.

The data suggests tool theft is becoming a more expensive problem for Victorian tradies despite a decline in the number of reported incidents.

The study found annual losses linked to tool theft climbed from $22.6 million in 2021 to $38.2 million in 2026, after peaking at $42.1 million in 2025.

At the same time, reported thefts fell from 56,918 in 2017 to 29,529 in 2026, a decline of 48.1 per cent.

The changing trend is reflected in the average value of equipment stolen. According to the analysis, the value attached to a single police report has climbed from $550 in 2017 to $1293 in 2026, an increase of 135 per cent.

OCAM 4x4 Accessories director Peter Gorgievski said the data suggests thieves may be targeting more valuable equipment.

“Fewer tools are being stolen, but the ones that are taken are worth far more; this could mean the thieves are becoming more selective.”

Regional Victoria appears to be experiencing the fastest growth in theft activity.

Wangaratta recorded a 207.4 per cent increase in tool theft reports over the five years to March 2026, the highest rise of any Victorian local government area. Glenelg followed with a 150.9 per cent increase, while Mildura rose 110.1 per cent.

Despite the regional growth, metropolitan Melbourne continues to account for the largest losses by value.

Wyndham topped the state with $2.78 million worth of stolen tools in the latest reporting year, ahead of Melbourne at $1.68 million and Brimbank at $1.65 million.

Melbourne also recorded one of Victoria's highest theft rates relative to construction workers, with 364.8 reports per 1000 workers.

The findings suggest tool theft is evolving rather than disappearing. While fewer incidents are being reported, the financial impact of each theft is increasing as tradies carry more expensive equipment.

With losses approaching $40 million a year and regional hotspots emerging, securing tools and work vehicles is becoming an increasingly important consideration for businesses across Victoria.