The construction industry has been one of the pillars on which Australia’s economic transition has been built since the end of the mining boom. For this reason, it’s important that we analyse the changes throughout the construction industry to grasp public sentiments and developments from the data. But what has changed in recent times? A great way to analyse the construction industry is by the amount of machinery used, such as the crane indexes. This helps us devise what scale projects are going on in what regions. For example, it is interesting to note that of the cranes in Melbourne currently in use, 85% are for residential use, including student accommodation and retirement living projects.
Crane usage is increasing
Since October 2015, there has been a large spike in tower crane usage throughout Melbourne commercial construction industry. What does this mean exactly? Generally speaking, this indicates that construction is booming in Victoria’s capital city. Growth in the overall tower crane count is due to a new breed of smaller tower cranes employed to service this growing sector. Moreover, the majority of growth has occurred in the suburbs where the proliferation of small and medium sized apartment development continues to flourish. Development-heavy areas around Melbourne include Doncaster, Box Hill, Manningham and Whitehorse. There is also a notable mention going to Brunswick East, with a handful of projects beginning their skyward path in that region in recent months.
A series of firsts
Not only has Melbourne begun a series of urban renewal projects, but it has done so by utilising tower cranes. Two of the most recent urban renewal projects - Fishermans Bend and Footscray's Joseph Road Precinct - has introduced the helpful usage of tower cranes. As well as this, new company’s logos are now mounted across Melbourne’s skyline, as the number of first-time users of tower cranes dramatically increase. The tallest hammerhead to be used in Melbourne also made its mark atop Brady Group's Vision Tower in the past six months.
Big things ahead
Amongst the many large building projects to be undertaken in Melbourne in the coming years, the two that arguably stand out are Australia 108 and Aurora Melbourne Central. Using newly installed tower cranes, the marquee projects will yield in excess of 2000 private apartments between them and in Aurora's case an additional 200 serviced apartments. With build times out to 2019 and beyond, these two skyline defining projects will act as a visible backbone for Melbourne's immense construction boom for some years to come.
Although it has been discussed that Australia’s construction industry may be facing hard times, the crane index suggests promising times ahead. Whilst the upper echelon of Melbourne remains steady, the majority of growth has occurred in the suburbs where the proliferation of small and medium sized apartment development continues to flourish This overall growth in the tower crane count can be attributed to a new breed of smaller tower cranes employed to service this growing sector. Stay tuned to our website for more updates on the crane index and construction news.
