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.
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.
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.
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.
Australia's largest building association says measures announced by the federal government to boost the economy will support the housing market and increase activity.
Some good and bad news for home buyers with one research firm saying the property cycle looks to have bottomed out while a survey from another says trading conditions are likely to deteriorate over the next six months.
WESTERN Australian pearl jeweller Kailis is preparing to move to premises in King Street, having leased the long-vacant site at number 29 between luxury international labels Gucci and Bally.
INCREASED requirements on energy efficiency and water use are expected to fuel the growth in green buildings for commercial and residential developments.
MALAGA-BASED civil construction and engineering group Georgiou Corporation Holdings Pty Ltd is relocating its headquarters to Osborne Park, with plans to build a 6,000 square metre office building near the IKEA store.
INDUSTRY groups in Western Australia have welcomed an Auditor General's report critical of the government's approvals process, saying the issues raised highlight an urgent need for change.
The former Western Australian government's $37 million investment into streamlining the state's resource approval process has largely failed, according to a report by the Auditor General.
A joint venture including Macquarie Bank Ltd have purchased 7500 square metres of office space and retail arcade on Hay Street known as 160 Central for some $40 million.
THE downturn in Western Australia's property sector has produced an increase in property repossessions and home loan arrears in the state, according to a report from the Reserve Bank of Australia.
APARTMENT developers in the Perth CBD are preparing for the first wave of settlements on new projects, at a time when softening market conditions have left some projects unsold and others facing defaults on contracts.
House values in Perth have suffered the largest drop compared to national figures, falling almost 6 per cent in the past year, according to latest statistics from the RP Data/Rismark International index.
URBAN infill was a key policy of the Carpenter government, outlined in the 'Network City' plan for a series of transit-oriented, high-density developments in Perth.
CHIDLOW-BASED property developer Greenedge Projects Pty Ltd is seeking to raise $12 million through an ASX-listing for its sustainable development vehicle, Greenedge Ethical Investments Ltd.
Calling the bottom of the market is fraught with danger for real estate agents and developers, but many in the industry are hopeful that the tide is beginning to turn.
DESPITE tightening global credit markets, property analysts remain optimistic that the residential sector in Western Australia is headed for a growth phase in the near future.
IT took less than 18 months for the state government's shared equity scheme - a lifeline for the first homebuyer market - to exhaust its three-year, $300 million budget.
