Which State Leads the 'Crane Count' In Australia + 115,000 Permanent Arrivals To Australia In Just One Month!

Based on the idea that cranes in the sky reflect major project construction, the Rider Levett Bucknall Crane Index tracks the number of tower cranes to indicate the strength of the construction sector in cities.

Read on, to find out which city is growing and what this means for properties in and around these areas!

Melbourne construction continues to surge with an increase of cranes standing across its CBD and suburbs reaching a peak of 222, a 40 per cent rise since March last year.

In contrast, Sydney’s residential sector has recorded a slight 10 per cent decline, down to 310 cranes across the same period.

Melbourne’s crane numbers reached beyond 200 for the first time chiefly driven by the addition of new cranes on existing large development sites, according to the latest index.

The residential sector continues to dominate the Melbourne skyline with 148 cranes across 69 suburbs.

Engineering work jumped 30 per cent as activity ramps up on a number of key infrastructure projects.

The residential and non-residential building sectors increased by 9.1 per cent and 9.5 per cent, respectively.

Sydney still leads overall crane count

Despite the slight drop in cranes, Sydney continues to lead the nation's crane count.

Of the 735 cranes across Australia, this number unchanged from last year, Sydney is home to 310.

While Australia’s record 735 long-term cranes from the previous edition remains unchanged, RLB says strong resilience is being seen in many markets and sectors across Australia.

Record Number of Immigrants Arrive in Australia

Now a ‘Big Australia’ can at times be a contentious discussion, however the facts are that Australia's immigration rate has surged to a new record high with more than 115,000 permanent arrivals in just one month.

The Australian Bureau of Statistics released new immigration figures on Thursday, showing that 115,100 new people declared Australia as their new home in February!

The number of new immigrants during the year was 11.4 per cent higher than the same period in 2018.  

When the number of people leaving Australia for good was taken into account, the net annual immigration rate stood at a five-year high of 299,190, which includes international students.

Australia's net annual immigration pace last climbed above 200,000 a year in 2012.

In the five years after that, Sydney's median house price surged by 68 per cent as Melbourne's equivalent values rose by 54 per cent

Despite high immigration being linked with soaring house prices, CommSec chief economist Craig James said strong population growth was good for the economy.

'The new migrants boost employment in the short-term but provide the strongest contribution to economic output the longer that they are in their positions,' he said.

'More people are deciding to call Australia home – if not permanently, at least for longer than a year.

'The lift in permanent and long-term arrivals reflects a perception of Australia as a great place to live and work – a country with a high standard of living and great opportunities.'

Australia's population surpassed the 25 million milestone in August, 22 years earlier than predicted in the federal government's first inter-generational report of 2002.

Australia's 1.6 per cent annual population increase is more than double the average of rich nations in the Organisation for Economic Co-operation and Development.

So, with continued strong demand for dwellings and limited supply, there continues to be a good platform for further capital growth in our ever growing cities, as evidenced by the last time our immigration rate was so high in 2012.

Property Club has great options in these growing cities, so make contact with your Property Mentor or hit enquiries@propertyclub.com.au for further information!

Have a great weekend and catch you next week!

Troy Gunasekera

National Manager

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Property Club being the leaders in Wealth Creation through property for 20+ years now, with over 20,000+ properties settled by Club members is in the enviable position of being best placed to assist YOU to have a retirement avoiding the pension!

https://www.propertyclub.com.au/contact-us/

Contact your Property Mentor for guidance and assistance on the best deals we have at the moment and let us show you how to avoid the pension!

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Have a great weekend and catch you next week!

Warm Regards,

Troy