Property

As Peet Limited approaches its second year as a listed company, the move to join the Australian Stock Exchange has coincided with a buoyant market.

Building activity in Western Australia continues to build momentum according to the latest Australian Bureau of Statistics figures, which show the total value of building work in WA grew for the 10th consecutive quarter in March 2006.

Amid one of Western Australia’s hottest real estate markets in almost two decades, and with coastal property a major driver, several short-stay apartment investments are being promoted in the South West.

The City of Perth has released a new inner-city residential design policy it hopes will reduce the number of noise complaints from residents, improve privacy and security, and limit development impact on heritage areas.

Time-share operator, Accor Premiere Vacation Club, has paid $11 million for 59 apartments at Busselton Bungalows, which it will re-brand as a Grand Mercure Resort.

The development of a golf course resort town north-west of Kalgoorlie-Boulder is attracting investors and providing a boost for longer-term tourism plans for the region.

The cities of Armadale and Gosnells, and the Serpentine-Jarrahdale shire have joined forces to help residents of older, existing homes, retrofit their properties to save energy and water.

A changing of the guard is under way at prominent CBD agency Burgess Rawson, with founding partner and joint managing director Geoff Potter stepping down from the position he has held for 21 years and handing over the reins to fellow joint managing direct

New home starts in Western Australia were up by 7 per cent in the March quarter, up more than 13 per cent from the same quarter last year, according to the Australian Bureau of Statistics.

Perth’s property sector has achieved solid sales in all major markets during the past financial year, backed by a strong state resource sector and greater investor confidence.

The Cockburn coast, south of Fremantle, is first on the list to undergo major urban renewal as soon as legislation for a new redevelopment authority is passed, the state government has confirmed.

The Westpoint property sell-off continues with agents Burgess Rawson releasing a second portfolio of properties onto the market, including 10 strata-title units at the Warwick Entertainment Centre.

The reputation of the near-city suburb of Maylands is clearly changing as young professional singles and couples look to secure affordable one- and two-bedroom apartments in the burgeoning riverside area.

Finding space for a car in the city is becoming as much of a challenge as finding office space, as demand outweighs supply in both public and office car parks.

Multiplex founder and construction pioneer John Roberts, one of the giants of Western Australian industry, passed away last week at age of 73 after succumbing to a long illness.

Visitors to Western Australia won’t be short of a place to stay, thanks to a host of hotels and resorts in the planning stages or preparing to open around the state.

The federal and state members for Fremantle, Carmen Lawrence and Jim McGinty respectively, have met with Fremantle Mayor Peter Tagliaferri to explore possible alternatives to the proposed $200 million Victoria Quay redevelopment on Fremantle Harbour.

After three decades in Subiaco, the Real Estate Institute of WA is considering a move through what it hopes will be a partnership with a developer.

A new tax bill introduced into federal parliament last week has resulted in amendments to the GST treatment of residential premises and the definition of “residential premises” in the GST Act.

ING Australia’s Western Australian business, including its real estate division, will move St Georges Terrace locations from its prime Central Park premises to take up new offices in the Forrest Centre when its lease expires on August 1.

Forget Mt Buller, Perisher or even Queenstown in New Zealand, a pair of local entrepreneurs wants to put Perth in the mix of winter sports destinations.

Perth’s city skyline reads like a who’s who of Western Australia as corporate heavyweights from banking, mining, finance, insurance and law pay thousands of dollars to get their name up in lights.

Lake Street in Northbridge will get a major dose of Finbar-style urban renewal following the Perth developer’s successful tender for two lots released by the East Perth Redevelopment Authority in the Plateia Hellas precinct.

The state government has approved a joint venture proposal to develop a new 338-hectare town centre near Wanneroo.

Continuing strong demand for office and retail space in the CBD and a lack of vacant land is straining relations between levels of government in Perth.

The Busselton Shire Council has released plans to expand and market Busselton Airport as a gateway to the South West for tourists and fly-in-fly-out workers.

The City of Fremantle plans to transform the port city by redeveloping the tired east end and revitalising Kings Square and the adjacent Myer building in a move it’s hoped will create an exciting retail mix to rival Garden City.

The rejuvenation of Fremantle’s Booyeembara Park by North Fremantle-based landscape architects Ecoscape has won the firm a swag of awards at the state’s inaugural Australian Institute of Landscape Architects awards.

Developer Finbar and a joint venture partner have paid $6 million for a site on the corner of Milligan and Wellington streets in Perth.

The city’s retail sector is heating up with agents witnessing price increases of more than 20 per cent in less than a year for prime space in the Hay Street and Murray Street mall precincts.

Western Australia’s Wheatbelt could have its own $6 million convention and exhibition centre if the Dowerin Machinery Field Days board has its way.

Australian investors spent $13.3 billion in overseas property markets last year, $8.9 billion of this in the US, making Australia the largest foreign buyer of US assets, according to a recent research paper.