Property

Embattled property developer Port Bouvard has posted an interim operational loss of $14.1 million on the back of hefty write downs.

Property values in Perth slipped in January with latest figures from RP Data showing the median price of a home dipped to $472,500.

Salta Constructions has terminated its lead builders' contract at Raine Square, claiming Saracen Properties has not attempted to resolve the dispute.

An active first homeowners market and improving market conditions has drive property developer Peet's first half operating profit up 50 per cent.

AS the shutdown of the Raine Square development site in central Perth enters its third week, speculation continues over the possible fallout from the dispute that prompted the lead building contractor to close the site.

PERTH’S industrial property market is showing signs of renewed strength and confidence, although that could be undermined by supply constraints, according to the latest market analysis from Colliers International.

NATIONAL property developer Stockland has joined rival developers Peet and Delfin Lend Lease as a key investor in the Alkimos-Eglinton area, north of Joondalup.

Aspen Group has returned to the black with the property developer and funds manager today reporting a net profit of $12.9 million for the first half of the 2010 financial year.

Property developer Cedar Woods Properties has reiterated its full-year profit guidance of $15 million after it today reported a profit turnaround to $9.9 million.

The Western Australian housing industry is eagerly awaiting the state government's release of a discussion paper to determine its direction over builder's warranty insurance.

The Town of Port Hedland says its long-running partnership with BHP Billiton Iron Ore could be used as a model for local governments and the private sector to boost revitalisation efforts in the regions.

AFFORDABLE housing provider Bethanie Group has signed a new partnership with the state government to deliver 200 new community housing units for the aged.

The lock-down of one of Perth’s largest construction projects has focused attention on developer Luke Saraceni and his contractor, Salta Constructions.

Property developer Finbar Group says it is confident of meeting its full-year profit forecast of more than $21 million after it today delivered an interim net profit after tax of $18.2 million.

Diploma Group has increased its first-half net profit after tax by 462 per cent as re-emerging confidence in the property sector paints a robust outlook for the property developer.

A GLUT of new commercial developments to come on line in Perth’s CBD this year will result in backfill vacancies in older stock, according to a leading office leasing agent.

SOUTH Perth-based Jaxon Construction’s announcement that it had bought into the North Fremantle Rivershores project is the company’s first step in refocusing its operations following a year-long strategic review.

Home loan approvals in Western Australia retreated for a third straight month in December after a reduction in government subsidies and interest rate rises dampened enthusiasm for mortages, economists say.

Saracen Properties says its $550 million Raine Square project will resume construction within a fortnight, after Salta Constructions told 250 workers to walk off the Murray Street site yesterday over a pay dispute.

Shares in listed property developer Finbar have fallen slightly after announcing it had purchased a 1.58 hectare site in East Victoria Park for almost $10 million which the company plans to develop into 95 apartments.

The Master Builders Association has warned the state's largest home indemnity insurance provider's decision to withdraw from the market could bring the residential building sector to a halt without urgent action from the state government.

The state government has signed a $42 million deal with a property development consortium to develop a 10-hectare site in Newman for urgently needed residential and short-term tourism accommodation in the Pilbara.

Perth's office vacancy rate has increased slightly to 8.2 per cent and will continue to rise this year as further supply is added to the market, new figures show.

UNDERLYING demand in Perth’s CBD office market is set to be boosted by the return of institutional investors in 2010, while supply constraints will ensure the office vacancy rate does not reach its forecast levels of 15 per cent, according to a leading ma

Shares in real estate and property development outift Cedar Woods Properties climbed more than 7 per cent today after announcing a stronger than expected first half result and a full year profit forecast of approximately $15 million.

Residential land in the South West region of the state is among the 10 most expensive regions across the country as land prices in Perth dipped 0.7 per cent in the September quarter, a new report shows.

Housing groups and mortgage brokers have been joined by the federal government in welcoming the central bank's decision to leave the official interest rate unchanged, the former saying it is an opportunity to see the effect of previous increases.

Listed property developer Finbar has been drawn into the collapse of a Japanese-owned language college GEOS, which was a big commercial tenant of the group.

Perth-based PRM Property Holdings has been chosen to partner with LandCorp to construct 100 homes at the Bluff Point suburb within Geraldton in preparation for the $4 billion Oakajee deepwater port and rail project.

The residential property sector in Perth appears to be on the cusp of another boom with a housing group forecasting a recovery in detached housing starts this year while a new house price gauge surged 11.5 per cent over the past year.

A new set of figures by RP Data and Rismark International has shown Perth's median house price has risen 6.5 per cent to $490,000 during the month of December.

The median price of a house in Perth has surged 8.7 per cent over the past year with Churchlands and Guildford some of the fastest growing suburbs in Perth, while the median unit price has hit an all-time high.