Property

THE developers of what will become Perth's tallest residential tower remain confident the project will be completed by the end of the year.

RESIDENTIAL developers are beginning to see the effects of sliding interest rates and boosts to the first homeowners grant, with some recording a significant increase in traffic through sales offices.

WHILE the top end of town chases the advertising dollar in securing chart-topping commercial acts to tour Western Australia, a niche market for musical entertainment has emerged with a different focus.

Property developer Nigel Satterley believes the Perth residential property market is virtually at the bottom of its downward cycle, with increases to the first home owners grant and the drop in interest rates injecting some stimulus into the market.

A major redevelopment of Belmont Park racecourse is back on the table after Planning Minister John Day today approved the advertising of a metropolitan region planning scheme amendment.

Property prices in most capital cities including Perth have plummeted in the September quarter, with house and unit prices flattened or posting negative rates of return in the past 12 months.

AS the credit crunch hits real estate investment trusts, the spotlight has turned to the strength of Victorian-based Becton Property Group, which has a number of holdings in the central business district - including a stake in 111 St Georges Terrace.

THE state government plans to release a draft revision of a controversial policy which caps shopping centre growth, which has been described as out of touch with residential expansion in new growth areas, early next year.

THE growth of retail space in suburban Perth shows little negative signs of the global financial meltdown, as shopping centre operators and traders hold their collective breath that public spending in the approach to Christmas will be at, or near, last ye

AUCTIONING homes is emerging as a popular vehicle for cash-strapped not-for-profit organisations to raise much needed funds.

INDEPENDENT property valuers, Christie Whyte Moore and Valuation Partners, have merged to form what they claim is Western Australia's biggest property valuation company.

AT least four major shopping centres across Perth are poised for a change of ownership, including three of the Centro Properties Group's largest Western Australian assets.

Despite the global downturn, the retail market is confident the significant amount of retail space under construction will be absorbed.

Work to start on Victoria Quay A START will be made in the first half of 2009 on one of Perth’s most controversial construction projects, the commercial precinct at Victoria Quay overlooking the Frema

The state government has announced it is seeking a development partner for a major part of its landholding at Alkimos, 40 kilometres north of Perth.

Perth has recorded the biggest fall in house prices over the past year as latest figures from the Australian Bureu of Statistics confirm a slowdown in the national housing market.

The Western Australian housing market is tipped to bottom out this December quarter as new homes sales during September jumped 19.5 per cent, however Perth remains the worst performer in property values.

SUBIACO-BASED property syndicator Australasian Property Investments Pty Ltd has released the plans for its $150 million Subi Centro development on the former site of refrigeration company, Arcus Australia.

THE buoyant economic conditions that prompted the recent wave of new retail developments in the Perth CBD are starting to turn, and while inquiries from retailers remain strong, a downturn in retail spending may dampen demand.

RISING office rents in the Perth CBD are prompting a change in the city's tenant profile, with a number of companies relocating after rent reviews, and others pushed out of the city into fringe suburbs.

A MALAGA-BASED power tool and equipment manufacturer has been named WA Inventor of the Year.

OUTDATED regulatory and pricing arrangements in Western Australia's aged care industry is threatening the vulnerable sector, with industry groups warning that an ageing population will exacerbate the state's already strained health resources.

CENTRAL Perth's high rents are forcing long-term tenants to rethink their accommodation needs.

The state government has formed a new committee to oversee redevelopment plans for Royal Perth Hospital, with Dr Peter Montgomery chairing the group.

Higher than expected revenue projections over the next two years have prompted the state government to cut land tax by 7 per cent, Treasurer Troy Buswell announced today.

The federal government has imposed a raft of tough measures on Perth-based Great Southern Ltd's Tiwi Islands plantation operation following a breach of approval conditions.

The state government will take a maximum stake of 25 per cent in homes under the revamped First Start shared equity scheme which this week received a $70 million lifeline.

THE push to redevelop laneways in the Perth CBD is gaining momentum, with plans for a series of small bars and cafes being developed by business owners and arts groups.

THE downturn in Western Australia's property market is continuing to challenge the residential building industry, with housing starts falling across the board and businesses being forced to adapt.

PROPERTY developers with projects in the City of Joondalup will soon have their development plans assessed by an independent committee, following a decision by the council to set up a design advisory panel.

THE downturn in Perth's housing market continued during the September quarter, with the city's median house price falling for the third consecutive quarter to $426,000.

Australia's largest building association says measures announced by the federal government to boost the economy will support the housing market and increase activity.