Western Australia's top end properties are among the most heavily discounted in the country's most expensive suburbs, according to new figures from RP Data.
Western Australia's house price index has risen 2.7 per cent in the June quarter, in line with the national upward trend, the Australian Bureau of Statistics said today.
Western Australians are a negative lot compared to the rest of the nation with nearly half responding to a home finance survey believing their property values will decline in the next quarter.
Perth's property market has today received mixed signals from latest surveys on house prices as building approvals surge 21.1 per cent, official data shows.
THE cost of land in Perth is creeping higher, with the median price at $225,000 in the March quarter, but prices are more than 10 per cent lower compared to the same period last year.
THE tough conditions experienced by developers during the past six months have been reflected in half-yearly results, with major property developers Australand and Port Bouvard announcing significant losses.
THE owners of Kingsway City shopping centre in Madeley are "reasonably confident" of gaining the necessary approvals to redevelop the site, after the Supreme Court ruled the State Administrative Tribunal would have to re-examine the proposal.
THE redevelopment of Subi Centro is entering a new phase, with three mixed-use projects in the northern part of the suburb moving closer to construction.
West Perth-based Sipa Resources has signed a $16 million joint venture deal with Malaysian investment company Affluent Net over its two copper projects in the Gascoyne.
The cost of land in Perth is creeping higher with the median price at $225,000 in the March quarter, but prices are more than 10 per cent lower compared to the same period last year.
Child Protection Minister Robyn McSweeney has defended the sale of surplus state-owned properties, saying it is part of a strategic decision to fund the expansion of residential care services and not an attempt to meet budget cuts.
THE Urban Development Institute of Australia hopes the state government's funding of a study of Carnaby's black cockatoos is the first step towards a more streamlined planning and approvals process.
Distressed asset sales could become the saviour of many Australian businesses and possibly free up some much needed capital tied up in non-performing bank loans, a financial expert says.
Property developer Port Bouvard has booked a $29 million net loss for the 2009 financial year which includes a more than $30 million asset impairment charge as a result of a weakening property market.
The state opposition has again slammed the Barnett government's 3 per cent budget cuts with Department of Health the latest to reveal a fire sale of $1.8 million worth of land.
Australia's bid to host the $2.6 billion Square Kilometre Array project has been given a boost by the federal government, which has committed more than $88 million towards a stake in a complementary telescope in Chile.
THE median house price in Perth has risen by 3.5 per cent, or $15,000, in the June quarter as owners traded up to more expensive homes, while the rental market's vacancy rate is now higher than normal, new data shows.
TWO Western Australian communications technology developers and exporters have joined forces to capitalise on opportunities in the commercial and military sectors around the globe.
ONE of Western Australia's biggest real estate groups has launched a new index to track market trends because it says median house prices do not accurately reflect Perth's property market.
FORECASTING has never been more difficult for those in the real estate industry, as predictions of future housing demand from national industry bodies counter opinions from local builders and representative groups.
FINANCIAL planners are the sole dissenting voice regarding a federal government move to allow superannuation funds to provide members with personal advice.
The state government has called for expressions of interest to develop the waterfront site near the Carnarvon town centre into a commercial, residential and tourism hub.
A complaint has been lodged with the corruption watchdog against Premier Colin Barnett for alleged misconduct over the removal of a Peppermint Grove property from the state heritage list.
The median house price in Perth has risen by 3.5 per cent, or $15,000, in the June quarter as more owners traded up to more expensive homes while the rental market's vacancy rate is now higher than normal, new data shows.
THE Residential Development Council of Australia has forecast the need for 17,000 homes per year for the next five years, warning of further house price rises if that demand was not met.
WESTERN Australia's construction sector has been boosted with the awarding of $342 million in contracts to builders across the state as part of the federal government's infrastructure funding program.
Perth-based Axiom Properties has agreed to sell the residential component of a Melbourne property site for $17 million, with funds to be used to reduce debt levels.
