RLB CRANE INDEX®

The residential crane sector continues to dominate in Auckland. However, the proportion of residential cranes fell from 57% of all long-term cranes in Q3 2022 to 27% in this edition; the lowest proportion of residential cranes since the index commenced.

Without significant commencements over the next six months, residential cranes will continue to decrease across the region. Currently, 21 long-term cranes are assisting residential construction activities on 19 projects. Most of these projects had cranes positioned on them as at our last count. Only four new cranes commenced on residential projects for this edition. Many of the continuing projects will be nearing completion within the next six to 12 months, highlighting the potential of a significant absence of residential cranes towards the end of 2024.

Total building consents also reflect the slowing of activity in Auckland. There was a 14% drop in overall consents in the 2023 calendar year. Residential consents fell by 18.2% and non-residential consents fell by 3.9%. These consent values correlate with the falling number of cranes across the Auckland region and point to a reduction in the forward construction pipeline.

Stats NZ’s most recent Building Work Put in Place results for Auckland show a slightly different story, with building activity increasing by 9.0% in 2023 on a year-on-year value basis. Activity in the residential sector rose by 4.2% in 2023, and in the non-residential by 20.3%.

The non-residential count increased by two long-term cranes, an increase of 3.6% in the Auckland market.