Property

Two reports out today highlight the weakness in Western Australian property prices over the past decade, including dramatic falls in some regional pockets, but the upside is the state has the most affordable housing across the nation.

Listed investor Growthpoint Properties Australia has struck a deal to buy a Wellington Street office building, the latest deal off the back of a healthy sales pipeline for Perth’s commercial office market.

Demand for office space in West Perth has fluctuated widely with commodity prices and the mining sector’s fortunes but the suburb is now attracting interest from diverse industry sectors.

A private Chinese investor has made its first move in Perth’s property market, purchasing Kelmscott Plaza Shopping Centre for $19 million.

Pindan has been awarded the design and construction contract for the first stage of an $18.5 million youth care centre project in Midland.

Growth in population and jobs are two factors that will lift the volume of residential greenfields land sales, a recent industry event has heard.

Singapore-listed Fragrance Group is one step closer to realising its $180 million vision for a two-tower hotel-cum-office and residential development in the CBD’s west end, with the City of Perth giving the project the green light.

The long road to an ASX listing for Nicheliving Holdings continues, after the property developer released its fourth supplementary prospectus this week, including details of its new 'big 4' auditor and a new director, and foreshadowing the release of a third replacement prospectus that will not have financial forecasts.

A Peppermint Grove property once home to the infamous ‘Taj on Swan’ is set to go under the hammer, with the owners recently engaging Sotheby’s International Realty to run a global sales campaign.

Sentiment towards Western Australia’s housing market fell during the second quarter of 2018 but the state is expected to lead the country for residential property capital growth over the next two years, according to a survey of industry professionals.

Opinion: Sensible development is the only way forward for a city beset by urban sprawl such as Perth.

Western Australia-based developer and investor Lester Group has ridden the wave of a strong east coast property market and is now seeking more opportunities closer to home.

The state government will transfer land in Westonia to the Central East Aged Care Alliance as part of its initiative to boost seniors’ accommodation across the Wheatbelt region, with Pindan awarded the tender for the design and construction of 72 new dwellings.

A proposal for the state’s first timber high-rise building, to be located on the corner of Beaufort and Newcastle streets, has been given the green light by the Metropolitan Redevelopment Authority.

South African firm DRA has expanded its Australian presence with the purchase of G&S Engineering Services from diversified infrastructure company Calibre Group.

National developer Cedar Woods Properties says it is expecting net profit of about $40 million for the 2018 financial year and is buoyant about the outlook for 2019.

Lino Iacomella will step down from his role as Property Council of Australia WA executive director later this month after two years in the position.

Several alternative approaches to tackling housing affordability are taking shape across Fremantle, with social enterprise Nightingale Housing one step closer to actualising its Wood Street project with its recent launch of presales.

Nine months after GDI Property Group settled its acquisition of A-grade commercial tower Westralia Square the building’s valuation has increased by $38.75 million, an encouraging sign for the Perth office market.

Perth's dwelling prices suffered another drop in the month to June down 0.5 per cent, with units continuing to suffer larger falls compared to houses.

Hawaiian has expanded its shopping centre footprint, finalising its $22.7 million acquisition of the Newpark Shopping Centre in Girrawheen.

Design firms HASSELL, Cox Architecture and HKS have received plaudits for their work on Perth’s Optus Stadium at the 2018 WA Architecture Awards, with the sports and entertainment precinct winning the top accolade and prizes in four other categories.

Private real estate and investment firm Warrington Property has completed its $50 million redevelopment of the William Square office building in Northbridge, and has appointed agents to lease the remaining vacant space.

SPECIAL REPORT: SPH Architecture + Interiors is an industry leader in terms of workplace diversity, with its share of women employees well above the construction sector’s participation average of about 11 per cent.

SPECIAL REPORT: ASX-listed company Veris has transitioned its business from the mining sector to become a diversified outfit focused on key infrastructure projects across Australia.

Following the rejection of an initial proposal late last year, the Metropolitan Redevelopment Authority has given 3 Oceans Property the green light to progress its twin-tower mixed-use development on the corner of West Coast Highway and Scarborough Beach Road.

The state government will partially privatise title registry agency Landgate in a move expected to raise at least $640 million, with the money to be used to fund the state's share of the National Redress Scheme for child abuse victims.

Not-for-profit community services provider MercyCare has purchased five early learning centres from private operator Acacia Hill Childcare for an undisclosed sum, doubling the group’s existing sector portfolio.

Sitting empty for three decades, the old Swanbourne Hospital site has been given a new lease of life, reopening as a high-end aged care residence and function venue.

A key government advisory body has recommended the Iconic Scarborough twin-tower project be given the green light when the Metropolitan Redevelopment Authority board meets tomorrow.

Yolk Property Group, in partnership with Southern Cross Care, will develop one of the last remaining sites at the Metropolitan Redevelopment Authority’s Champion Lakes residential development, with plans for more than 100 new dwellings along with a wellness, aged care and retirement precinct.