Construction growth in NSW continuing. The expansion in the industry is evident as Sydney now has a Record 350 Cranes on its Skyline
According to research compiled by RLB, Sydney now has a record 350 cranes over its city centra & metropolitan region over the Q4 2017 up to October of 2017. This represents an increase of 16 cranes from 334 when a crane count was last completed in Q2 of 2017 just 6 months earlier.
Sydney absolutely dominates the crane count numbers with Melbourne a distant second at 151 cranes on its skyline which is almost a full 200 cranes less than Sydney. This is especially amazing when you consider Melbourne has a population which is comparable to Sydney & is growing at a much faster pace than Sydney.
According to the Sydney Morning Herald, Since 2011, 1656 new people called Sydney home every seven days as 1859 arrived in Melbourne. This means each week Melbourne is adding 200 more people than Sydney & this has been happening for the last 5 years, which makes it all the more suprisingthat Sydney has more than double the amount of cranes on its skyline & yet it is growing slower than Melbourne.
Sydney has more cranes on its skyline than the rest of Australia combined. When it comes to a crane count & the number of highrises which are going up, Sydney is in a league of its own. Some notable suburbs which have a high concentration of cranes include:
- Epping – 16
- Wolli Creek – 13
- Parramatta – 10
- Burwood – 9
- Mascot – 8
- Homebush, Lane Cove, Lewisham , Zetland – 7
- Leichhardt, Surry hills – 6
- Ashfield, Auburn, flemington, Meadowbank, Mosman, Ryde and Waterloo – 5
Here is a breakdown of the crane count by project type:
- Residential – 298 Cranes
- Commercial – 18 Cranes
- Hotel – 8 Cranes
- Civil – 8 Cranes
- Health – 4 Cranes
- Education – 4 Cranes
- Other – 10 Cranes
As you can see by the numbers, the vast proportion of cranes on Sydney’s skyline is for highrise residential projects which represent 85% of the total amount of cranes on its skyline. This has led some analysts to believe there may be an oversupply of highrise apartments in certain pockets of Sydney however as this building boom in unprecedented in Sydney’s history no one can be sure what struction pipeline has been built & available to the open market.