Brisbane residential work remains stable: RLB Crane Index Brisbane Q1 2024
Residential construction work has remained stable across Brisbane.
The recently released RLB Crane Index® Q1 2024 shows a slight decline in residential crane numbers in the sky across Brisbane, down from 36 in Q3 2023 to 34 in Q1 2024.
Adding to the supply of new apartments in Brisbane is Skye Residences by Pikos and Sorano House, both in Kangaroo Point. They both saw cranes added to their prime sites in the affluent riverside suburb.
The CBD and its surrounding area still have most of the city's cranes, accounting for 62 per cent. There were 15 cranes removed from projects in Brisbane, Kangaroo Point, New Farm, South Brisbane, West End, and Woolloongabba.
The Queen’s Wharf project, previously a major contributor to Brisbane's crane count, saw five cranes removed, leaving four left on site as the project approaches completion.
Activity in Brisbane’s east saw an increase of six cranes to bring the region’s total to seven cranes. This total equals the previous high count of seven cranes in Q1 2021. Only one was a build-to-sell residential project, Gardner Vaughan's Stones Corner project Stonebrook.
Brisbane North saw a significant fall in residential crane numbers, down from 12 to six, as cranes were removed from the completed Canvas Bulimba by Graya and Bide Newstead by Dibcorp, as well as three from Mirvac's Quay tower in Newstead.
There were numerous cranes added to Brisbane West's residential count, with Consolidated Properties' Monarch Residences in Toowong adding a crane, as well as The Audrey in Indooroopilly.
Brisbane's residential cranes account for 44 per cent of all cranes in Brisbane. This proportion is lower than in Melbourne and Sydney, where residential cranes represent 55 per cent and 64 per cent of all cranes, respectively.
