Transurban Reports 3% March Quarter Traffic Growth Driven by Melbourne and North America

Group-wide Traffic Growth and Market Highlights

Transurban Group released its March quarter 2026 traffic update, reporting an overall average daily traffic (ADT) increase of 3.0% compared to the prior corresponding period. This growth reflects a combination of new infrastructure projects and recovery from prior disruptions across its key markets in Australia and North America.

Melbourne and North America were the primary contributors to this uplift, with Melbourne's ADT rising 3.8% and North America seeing a 7.9% increase. Sydney experienced more modest growth of 0.6%, while Brisbane's traffic grew 5.2%, partly recovering from the impacts of Tropical Cyclone Alfred in March 2025.

Melbourne and North America Infrastructure Impact

Melbourne's traffic growth was largely driven by the opening of the West Gate Tunnel (WGT) in December 2025, which contributed to a 3.8% increase in ADT to 866,000 transactions for the quarter. The new tunnel also caused an estimated 1% redistribution of traffic from CityLink, which itself saw a 3.1% increase in large vehicle traffic. Average workday traffic in Melbourne increased by 4.0%, with weekend and public holiday traffic up 2.5%. Large vehicle traffic notably rose by 17.1%, reflecting strong freight movement.

In North America, the 495 Northern Extension (NEXT) project, opened in November 2025, was a key driver of a 7.9% ADT increase to 164,000 trips. Traffic on the 495 Express Lanes surged 17.2%, while the 95 Express Lanes grew by 4.5%. These figures indicate continued ramp-up and utilisation of the new infrastructure.

Sydney and Brisbane Traffic Trends

Sydney's ADT growth was constrained to 0.6% for the quarter, impacted by ongoing construction-related disruptions, particularly on the Warringah Freeway, which is expected to open by the end of 2026. The M7 motorway also saw progressive widening works with sections set to open in the June quarter. Car traffic in Sydney increased by 0.5%, while large vehicle traffic rose by 1.4%.

Brisbane's traffic grew by 5.2% compared to the prior corresponding period, which included the effects of Tropical Cyclone Alfred in March 2025. Underlying traffic growth excluding cyclone impacts was 0.7%. Large vehicle traffic remained robust, increasing by 7.5%. Average workday and weekend/public holiday traffic rose by 5.1% and 5.6% respectively, with car traffic up 4.5%.

Macroeconomic and Geopolitical Considerations

Transurban noted the broader macroeconomic and geopolitical environment, including the Middle East conflict beginning late February 2026, as factors it continues to monitor for potential impacts on traffic volumes. The company highlighted its historical resilience during periods of market dislocation, supported by more than 90% of revenue being CPI-linked or subject to fixed escalations.

Additionally, Transurban emphasised its ongoing support initiatives, including Linkt Assist for customers facing financial hardship and an expanded community grants program aimed at organisations providing emergency relief and transport support amid cost-of-living pressures. The company has also accelerated payment terms for small suppliers from 30 to 14 days.

Operational and Financial Context

This traffic update follows Transurban's recent half-year results for December 2025, where the group reported an 8.1% revenue increase and progress on key projects such as the West Gate Tunnel and US 495 Express Lanes. The March quarter traffic growth aligns with these operational milestones and underpins the group's ongoing infrastructure expansion strategy. For more details on Transurban's recent financial performance and project developments, see the group's accelerated growth and infrastructure openings report from February 2026.