{"id":485,"date":"2016-04-14T03:56:22","date_gmt":"2016-04-14T03:56:22","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=485"},"modified":"2016-04-14T03:56:22","modified_gmt":"2016-04-14T03:56:22","slug":"australias-crane-index-suggests-construction-is-still-booming-in-the-capital-cities-for-now","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/australias-crane-index-suggests-construction-is-still-booming-in-the-capital-cities-for-now\/","title":{"rendered":"Australia&#8217;s crane index suggests construction is still booming in the capital cities &#8212; for now"},"content":{"rendered":"<p>Australia\u2019s construction industry has been one of the pillars on which the nation\u2019s economic transition has been built since the end of the mining boom.<\/p>\n<p>So, even though the latest AI Group-HIA performance of construction index (PCI) suggested <a href=\"http:\/\/www.businessinsider.com.au\/australias-construction-sector-is-in-a-spot-of-bother-2016-4\">Australia\u2019s construction industry is in a spot of bother<\/a> there are still signs of strength according to the latest release of the Rider Levett Bucknall (RLB) Crane Index, for Q2 2016.<\/p>\n<p>The index, which tracks the numbers of cranes in the key mainland cities within Australia, has risen by 145% since the commencement of the Crane Index in Q4 2013. The index also showed all Australian cities since the last count have recorded increased or neutral crane activity.<\/p>\n<p><img loading=\"lazy\" class=\"size-medium wp-image-486 aligncenter\" src=\"http:\/\/minutes.machine.market\/wp-content\/uploads\/2016\/04\/rlb-crane-chart-300x223.jpg\" alt=\"rlb-crane-chart\" width=\"300\" height=\"223\" srcset=\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2016\/04\/rlb-crane-chart-300x223.jpg 300w, https:\/\/machine.market\/blog\/wp-content\/uploads\/2016\/04\/rlb-crane-chart.jpg 577w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>RLB said that there are currently 647 cranes across the cities they survey with significant growth in Sydney, Canberra, Gold Coast and Melbourne. To put the number of cranes into context, the second quarter\u2019s 647 is an increase of 113 cranes or around 20% since the last index was calculated.<\/p>\n<p>\u201c80% of all cranes counted in the previous Crane Index were removed and erected on other sites around Australia,\u201d demonstrating \u201cstrong levels of activity over the short term,\u201d RLB said.<\/p>\n<p>Australian construction is still dominated by the residential sector, which accounts for 81% of all cranes recorded. That\u2019s 525 cranes.<\/p>\n<p>\u201cSince RLB\u2019s last Crane Index, some 264 cranes were removed from residential projects around the country, and 368 erected. This again highlights the current strength of the multi-storey residential sector,\u201d the company said.<\/p>\n<p>With so many net cranes being added so late in the residential construction cycle, we could be seeing the real world version of what Luci Ellis\u2019, the RBA\u2019s head of its Finanical Stability Department, <a href=\"http:\/\/www.businessinsider.com.au\/heres-the-best-explainer-weve-heard-on-how-australias-apartment-boom-could-bust-and-soon-2016-3\">calls the Slower Builder Theory<\/a> of property development.<\/p>\n<p>That theory, Ellis says, is based on the notion that \u201ceveryone knows that not all the projects underway will make money, but yours will if you can just complete it before the other guys complete theirs\u201d.<\/p>\n<p>We\u2019ll know in the next 12 months.<\/p>\n<p><strong>Follow Business Insider Australia on <a href=\"https:\/\/www.facebook.com\/BusinessInsiderAustralia\">Facebook<\/a>, <a href=\"https:\/\/twitter.com\/BIAUS\">Twitter<\/a>, and<a href=\"http:\/\/www.linkedin.com\/company\/business-insider-au\">LinkedIn<\/a><\/strong><\/p>\n<p><span class=\"author\"><a href=\"http:\/\/www.businessinsider.com.au\/author\/greg-mckenna\">GREG MCKENNA<\/a><\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australia\u2019s construction industry has been one of the pillars on which the nation\u2019s economic transition has been built since the end of the mining boom. So, even though the latest AI Group-HIA performance of construction index (PCI) suggested Australia\u2019s construction industry is in a spot of bother there are still signs of strength according to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":487,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[2,3,6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Australia&#039;s crane index suggests construction is still booming in the capital cities - for now - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/australias-crane-index-suggests-construction-is-still-booming-in-the-capital-cities-for-now\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australia&#039;s crane index suggests construction is still booming in the capital cities - for now - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"Australia\u2019s construction industry has been one of the pillars on which the nation\u2019s economic transition has been built since the end of the mining boom. 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