Cranes, cranes, everywhere (Gold Coast boom!)

Cranewatch

Some cracking analysis from RLB in its brilliant crane index for the March quarter of 2024.

869 cranes were on sites nationally, not too far off the previous record high for Australia of 882. 

Source: RLB

The number of residential market cranes fell by 13 over the March quarter, but there have been some offsetting increases, largely due to Amazon's new fulfilment centre construction in Melbourne's Craigieburn

The facility will be Australia's largest at more than 200,000 square metres in size across four levels, and will house more than 25 million of Amazon's sales items from 2025. 

Unsurprisingly, Sydney had the largest number of cranes in the country, but the Gold Coast is a standout, with a record number of cranes on the glitter strip.

Lots of information is pointing towards a cyclical construction boom at the Goldie, including building approvals, off-the-plan sales to downsizers and cash buyers, and a tremendous shift in interstate migration to that part of the country. 

Overall, it looks as though the residential activity is falling away as the pipeline this out, but there's still a vast amount of non-residential construction work underway around the country. 

Source: RLB

You can download RLB's quarterly report here. 

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