Sydney’s commercial construction activity has driven the need for more metal fabrication services, as evidenced by an index that tallied the number of cranes in the city.
Contractors’ prices may have increased due to a higher demand. If you’re looking for a cheaper alternative, metal fabrication in Tamworth could be an option.
Cranes at Work
As of the second quarter of 2018, the RLB Crane Index recorded 684 cranes at work in capital cities in the country. Most of them are in Sydney with 346 cranes being used in commercial and retail construction projects. Activity in these sectors has offset a drop in residential development.
There were 45 fewer cranes in Sydney for residential projects. The decline took place for the first time since the index began tracking the number of cranes for construction work, according to RLB director of research Stephen Ballesty. Despite this, New South Wales still emerged as the top-performing economy in Australia.
New South Wales’ economic growth outranked other states and territories in Australia during the first quarter of 2018, according to a Commsec report. The analysis used eight indicators to measure the performance of each region’s economy.
The state emerged on top based on business investment, construction projects, economic and population growth, jobless rate, housing finance, housing starts, and retail trade. Victoria ranked not too far behind after it placed second best on the five factors. As metal fabrication greatly relies on the construction industry, most contractors in these states may expect an uptick in production orders and inquiries.
Companies that need metal fabricators for their Sydney projects should consider contracting services from outside the city to save on costs. While demand remains high, competition from other contractors and construction prices may also increase as a result of more cranes in the city.