RLB CRANE INDEX®

The RLB Crane Index® fell by three index points to reach 204 points in Q1 2024. The index value of 204 points is equivalent to 869 cranes across the country, down slightly from the record high of 882 reached in our last publication. Despite this slight dip, it is clear that crane numbers across the country remain high.

In the last six months, 367 new cranes were added to new projects, and 380 cranes were removed from buildings nearing completion. With 13 less cranes dotting the skyline, the number of cranes across the major cities is now the second highest recorded.

The large number of cranes observed correlates with national construction activity. According to the Australian Bureau of Statistics, total construction activity across Australia for the 2023 calendar year was up by 9.0%, or $21bn, compared to 2022.

The residential index fell from the record high of 178 in the last edition by four index points to 174 points. The index represents 540 cranes, down from 553 in the last count. 210 cranes were added to residential projects, with 223 removed from sites.

The non-residential index remained steady at 286 points. There are 329 cranes on non-residential sites—the same total as in Q3 2023. The non-residential proportion of cranes across the country is 38%, up slightly from the 37% recorded in the last count.

Four cities recorded higher crane numbers for Q1 2024. Melbourne was the only city that gained more than 10 cranes.