Gold Coast development: Cranes peak on sites during city skyline boom
The Gold Coast construction boom has been confirmed by a report with the city reaching a peak in terms of cranes on development sites.
Council
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The Gold Coast has reached a peak in terms of cranes on development sites, confirming the strength of the construction boom during Covid.
But the biggest change in development activity is the focus on building towers in the suburbs, rather than commercial sites in the city’s CBD.
The Gold Coast Rider Levitt Bucknall Crane Index, for the third quarter of 2021, has increased to 233 compared to 193 recorded at the last count.
“This is the region’s highest index value since the inception of the index,” the 19th RLB crane index report said.
“A total of 23 cranes were added and 17 cranes were removed bringing the Coast’s total to 35.”
The residential sector continues to dominate the region with more than 90 per cent of all Gold Coast cranes. The city has only one commercial and one mixed-use crane.
“The residential sector saw 21 new cranes placed on sites and 16 removed, bringing the sector’s total to 32 — an increase of five cranes from Q1 2021 edition,” the report said.
New residential cranes include 49 George Street at Southport, Allure in Surfers Paradise, the Star’s Destination Stage Two tower and the Infinity Tower at Broadbeach.
On the Coast’s southern end, there are cranes at One Palm Beach at Palm Beach and 345 Golden Four Drive at Tugun and the Flow Residences at Coolangatta.
Central Coast development sites include C444 Capital Court at Varsity Lakes and Brooke Residences at Robina.
Other sites include Harbour Residences at Anchorage at Hope Island, 24 Spendelove Ave, Southport, Aurum Sands at Bilinga, Village Palm Beach, the Waverly Residencies at Southport, Esperance Hope Island, The Lanes Residencies stage 2 at Mermaid Waters, Vantage Burleigh Waters and Pearl at Main Beach.
The only commercial crane remains at Queens Street Village 1 & 2 at Southport.
A council development activity report released in May showed the industry was in recovery, with applications on track to top those recorded in the 2016-17 financial year.
The most recent report for the first quarter of 2021 showed development applications up 17.5 per cent on the same quarter in 2020. Building approvals had increased by 23.8 per cent.
Council planning committee chair Cameron Caldwell told the Bulletin: “Construction remains an important pillar of the local economy — cranes in the sky means jobs on the ground.
“Positive sentiment in the property market means developers are looking to activate approvals and deliver housing product. The strong level of construction activity illustrates confidence in the development sector as we emerge from Covid.
“We continue to see people wanting to live in our city which supports a healthy property and construction industry to meet the demands of a growing city.”
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