A construction boom in Sydney manifested through the number of cranes at work on several projects in the city, according to Rider Levett Bucknall’s latest quarterly crane index.
The index showed that 350 of 685 cranes currently used in the country are located in Sydney. In the past decade, the Barangaroo region has gone through a major development spree. A second casino and several other projects would reach completion by early 2021.
The New South Wales (NSW) government has advised the public about the negative impact of the existing buildings projects. Road and rail developments have been part of what the government described as a “year of construction.”
While these projects may have disrupted Sydney residents’ daily lives, several businesses have gained from a boom in construction. Stainless steel bolts and nuts suppliers, for instance, have enjoyed the benefits of an ongoing pace of work around the city. NSW Treasurer Dominic Perrottet said that the number of cranes in the city symbolised the state’s infrastructure plan, as each project could be another home, school, hospital or business in Sydney.
The pace of construction in other cities seemed not as strong as Sydney’s building boom. In Melbourne, only 151 cranes have been used for construction projects. On the other hand, a total of 116 cranes have been present at the skylines of Brisbane and the Gold Coast, according to the Rider Levett Bucknall index.
In the past six months, nearly all capital cities nationwide indicated an increase in construction activity due to more cranes in these regions. Canberra and Darwin served as the exception, the index noted.
Strong activity in the construction sector bodes well not just for Sydney, but also for the country’s economy as well. Infrastructure development simply means that more facilities are being added to improve daily life.