RLB CRANE INDEX®

The value of new building (residential and non-residential) approvals correlates to the fall in crane numbers over the past six months, with weakening approval numbers.

Total approvals lifted by 2.9% for FY 2023 over the previous 12 months. Looking into this result highlights a drop in the sectors that traditionally have cranes on development sites. Apartments (down 4.5%), Health (-26.8%), and Hotels (-36.2%) have all fallen from FY 2022 levels.

Overall, Melbourne saw another net increase in the number of cranes in the civil sector, with six additional cranes. This reflects the high public works activity currently underway across the city. Significant activity for the Westgate Tunnel project, Level Crossing Removal Project, and the Metro Tunnel project are all contributing to record numbers of civil cranes. The current 23 civil cranes match the previous sector high in Q3 2021.

The only other sector that saw net growth of more than two cranes was the health sector, with three cranes installed on the $1.1 billion redevelopment of Frankston Hospital. This will deliver a new 12-storey clinical services tower and main entrance, 130 more beds, new spaces for mental health and oncology services and 15 new operating theatres.

A decline in crane numbers was seen in the residential (down seven), mixed use (down seven), commercial (down three), data centres (down three), hotel (down one), recreation (down one), and civic (down one) sectors.

While the residential sector recorded a net loss in crane numbers, it still accounted for the majority of cranes in Melbourne at 53%. While civil cranes now account for 13%.

One crane commenced at the MEL04 data centre in Brooklyn within the data centre / industrial sector.

One crane was added to each of the Chadstone Shopping Centre and the Malvern Collective projects within the mixed-use sector.

Within the Melbourne CBD, two cranes commenced at the former David Jones store in Bourke Street in the retail sector.

A total of 45 cranes were added to residential sites over the past six months, with 52 removed.

Across the city’s six main regions, increases in crane numbers were only seen in the inner and southern regions, increasing by three and one respectively. All other regions saw crane numbers decrease, for an overall net loss of 11 cranes across Melbourne’s regions.

Inner Melbourne recorded a small gain of three cranes after a significant fall in the previous six months to Q1 2023. A total of 38 new cranes were added and 35 were removed. Cranes across Melbourne were in almost all sectors with the residential, commercial, and civil sectors all having more than 10 cranes.