More Construction Cranes Flying Over North American Cities

Two new reports from Rider Levett Bucknall offer a positive outlook for the construction industry.
February 11, 2018, 1pm PST | James Brasuell | @CasualBrasuell
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"Two reports issued by Rider Levett Bucknall, an international property and construction consultancy, show construction activity is strong across North America," according to an article by Gail Kalinoski. The conspicuous sign of that strength, according to the Rider Levett Bucknall report: construction cranes dotting the skyline from coast to coast.

The two reports, the Quarterly Construction Cost Report (QCR) and Crane Index, produce a positive overall outlook for the construction industry, explains Kalinoski.

Between July 1, 2017, and Oct. 1, 2017, the national average increase in construction costs was approximately 1 percent while the Crane Index found 383 cranes counted in January 2018 compared to 381 in July for an increase of 0.5 percent, according to RLB research.

For more on the number of cranes working in North American cities, and the kinds of projects they are building:

Six of the 13 cities in the Crane Index held steady from July while five had an increase in cranes and two had fewer cranes. At nearly 40 percent of the total crane count, the residential market dominates sector activity with Toronto leading the pack with 70 of its 88 cranes dedicated to high-rise condominium projects. Mixed-use development is the second largest market, making up nearly 25 percent of all cranes in North America with Los Angeles, Seattle, Portland and Washington, D.C., leading that sector, according to the Crane Index.

More info on the studies and a map showing the findings of the Crane Index report (with the glaring omission of cities from Texas) are also available in the source article. 

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Published on Thursday, February 8, 2018 in Commercial Property Executive
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