High-rise residential sector in good health
Rider Levett Bucknall’s (RLB) Crane Index shows that 324 cranes were in place in September across Australia’s capital cities, a 52 per cent increase in number year-on-year.
The results of the RLB index point to the continued strength of the high-rise residential sector across Australia, which has been bolstered by low interest rate levels, demand for inner-city living and strong investment sales.
Sydney and Melbourne dominated the index for the number of cranes currently erected, with 119 and 93, respectively. Sydney recorded a significant increase (177 per cent) in the number of cranes on its skyline since September last year when just 43 cranes were noted. Brisbane followed with cranes currently erected, Perth with 40, and the remaining capital cities have cranes in the single figures.
The report identifies significant long-term projects underway in all the capital cities, with a large number of cranes on single sites. Among the most notable projects are Barangaroo in Sydney (with nine cranes and more due to commence); Kings Square in Perth (five), Costin Street, Bowen Hills (four) and Hercules Street, Hamilton (four) in Brisbane; and the Victorian Comprehensive Cancer Centre (four) in the Melbourne suburb of Parkville.
High-rise residential projects dominate the number of cranes by sector, with 202 cranes (or 62 per cent of the national total) engaged in residential work. Of that number, 70 per cent are in Sydney and Melbourne. Commercial projects are a clear second in terms of number of cranes, with 53 cranes engaged in a commercial capacity.
The report identifies 400 cranes in use across Australia and New Zealand, of which 76 cranes are in New Zealand. It says that 221 new cranes have been erected in both countries, and 193 removed, since RLB’s last report in March 2014. Sydney was the location for much of that churn, with 62 cranes erected in the six months to September 2014 and 68 cranes removed as projects neared construction.
|
Crane Movement – Australia by Sector |
9/13 – 9/14 |
3/14 – 9/14 |
||||||
|
Sep-14 |
Mar-14 |
Sep-13 |
YoY |
HoH |
||||
|
Commercial |
53 |
16% |
16% |
62 |
29% |
-15% |
-19% |
|
|
Residential |
202 |
62% |
189 |
61% |
97 |
46% |
108% |
95% |
|
Health |
21 |
6% |
28 |
9% |
27 |
13% |
-22% |
4% |
|
Education |
9 |
3% |
10 |
3% |
8 |
4% |
13% |
25% |
|
Retail |
5 |
2% |
5 |
2% |
4 |
2% |
25% |
25% |
|
Civic |
2 |
1% |
3 |
1% |
0 |
0% |
|
|
|
Recreation |
5 |
2% |
1 |
0% |
5 |
2% |
0% |
-80% |
|
Hotel |
4 |
1% |
1 |
0% |
4 |
2% |
0% |
-75% |
|
Civil |
3 |
1% |
1 |
0% |
4 |
2% |
-25% |
-75% |
|
Other |
20 |
6% |
20 |
6% |
2 |
1% |
900% |
900% |
|
Total |
324 |
|
308 |
|
213 |
|
52% |
5% |
|
Crane Movement – Australia – by City |
9/13 – 9/14 |
3/14 – 9/14 |
||||||
|
Australia |
Sep-14 |
Mar-14 |
Sep-13 |
YoY |
HoH |
|||
|
Melbourne |
93 |
29% |
61 |
20% |
61 |
29% |
52% |
52% |
|
Adelaide |
8 |
2% |
14 |
5% |
15 |
7% |
-47% |
-43% |
|
Brisbane |
15% |
16% |
38 |
18% |
32% |
0% |
||
|
Canberra |
7 |
2% |
9 |
3% |
6 |
3% |
17% |
-22% |
|
Darwin |
7 |
2% |
7 |
2% |
13 |
6% |
-46% |
0% |
|
Perth |
40 |
12% |
42 |
14% |
37 |
17% |
8% |
-5% |
|
Sydney |
119 |
37% |
125 |
41% |
43 |
20% |
177% |
-5% |
|
Total |
324 |
|
308 |
|
213 |
|
|
|