Property

Property syndicator Primewest has added to its retail portfolio, buying a homemaker centre in Brisbane for $34.75 million.

Perth residential property prices fell 2.4 per cent in the September quarter, as the Real Estate Institute of Western Australia tipped eight suburbs to watch next year.

LandCorp is close to releasing prime land in the inner western suburbs, with its Shenton Park Hospital site one of 30 redevelopment opportunities across the state expected to deliver more than 14,000 homes.

Doubleview-based Ausnet Real Estate Services, which is backed by mortgage aggregator Finsure and led by chief executive Paul Niardone, is seeking an ASX listing through a reverse takeover of Namibian Copper, which saw its share price crash by more than 50 per cent after the deal was announced.

Alternative construction techniques are gathering momentum in Western Australia, but not all builders are convinced that double brick’s dominance is about to end.

Challenging conditions loom for homebuilders in WA, as demand for new housing slows after record-breaking peaks of activity last year.

A long-running campaign to sell a 50 per cent stake in Exchange Tower is coming to a close, with property syndicator Primewest to pay $113.5 million for half of the CBD skyscraper.

Woodside Petroleum’s impending exit from its namesake office tower on St Georges Terrace has already affected the building’s value, with its owner, DEXUS Property Group, saying it was now worth $80

Perth-based construction contractor Doric has been appointed to deliver the showpiece public plaza at the Perth City Link, Yagan Square.

Property Council of Australia’s long-serving Western Australian executive director Joe Lenzo has announced he will retire next March, with the search for a successor to begin immediately.

The number of residential lots created in November in Western Australia was the lowest monthly result in nearly four years, with state government agency Landgate also recording its lowest levels of monthly activity since the beginning of this year across every type of land transaction.

Stan Perron’s vast private business group has reported a solid lift in revenue and profit, with strong returns from land development projects and international equities offsetting write-downs on the Central Park office tower and its iron ore royalties.

The recent approval for an estimated $450 million expansion of Westfield Whitford City has added to a long line of shopping centre redevelopments proposed in Perth, although ongoing economic uncertainty is casting doubt on how many will actually go ahead.

DEXUS Property Group has made a conditional, non-binding $2.5 billion cash and scrip bid to merge with the ASX-listed Investa Office Fund, which has a nationwide portfolio of assets that includes t

Houses in Perth are at their most affordable level since 2002, with less than 24 per cent of income required to meet loan repayments.

A recent office leasing deal at Exchange Tower has illustrated the lengths to which landlords are going to attract tenants, as vacancies continue to rise across the CBD.

Western Australians won’t get their long-awaited access to Elizabeth Quay until the end of January, with the state government today confirming the project won’t be finished in time for Christmas.

Apartment developer Finbar Group will launch sales early next year for a $162 million, 247-dwelling project at 63 Adelaide Terrace, after receiving planning approval for the project yesterday.

Perth venture capital firms have welcomed government measures today that will allow small businesses to raise money by crowd-sourcing, but criticised them for not going far enough.

Australia could face a sharp decline in home construction that may lead to an easing in prices, a HIA report says.

Western Australia has experienced a complete recovery in confidence following a year of damper sentiment, given strong optimism on household spending and long term economic conditions (up 32.2 per cent and 15.7 per cent respectively).

The state government is stepping up efforts to deliver affordable housing options near transport links by seeking to partner with developers on seven sites across the city worth about $20 million.

Home values in Perth rose by 0.3 per cent in November to a median of $499,000, while the combined capitals index dropped 1.5 per cent.

One of Perth’s most successful small builders is gearing up to move into the commercial construction space, part of a comprehensive rebrand amid slowing housing demand and a restrictive insurance r

Construction on a 22-storey tower near Canning Bridge will start in March next year, after developer Norup + Wilson was given the green light to proceed by planning authorities.

Satterley Property Group has made its second acquisition in Perth’s eastern suburbs in less than a week, paying $90 million for a 140-hectare tract of land in the Swan Valley.

Caravan and accommodation manufacturer Fleetwood Corporation has foreshadowed a first-half loss of $5 million, while also announcing that its chairman and one of its long-serving directors intend to leave the board.

Western Australia’s first micro-lots will be built at Ellenbrook, with a concept expected to be ready for the public in the second half of next year.

Developers say the extension of a buffer around industrial areas near Kwinana has the potential to set a dangerous precedent over the erosion of the rights to develop land.

Diploma Group has won a $52 million contract to build the Riverwood Apartments in Burswood, with work already underway.

LandCorp has named a shortlist of three developers for the construction of a fourth lot at Claremont on the Park, while the City of Swan has approved a master plan for the Midland Oval redevelopment.

Apartment developer Finbar Group says it has completed its $75.6 million Arbor North project in Rivervale on time and budget, with $54.6 million in sales received to date.