Administrators were appointed to 18 WBHO Australia entities overnight, including West Perth-based WBHO Infrastructure, and Probuild, which could be expected to owe at least $250 million.
The City of Perth has backed the WA Housing Authority’s plan to build a $34.5 million apartment tower on Wellington Street, but not everyone is as supportive.
Updated: South African business WBHO has withdrawn financial support for its Australian entity, putting the parent of $4.7 billion construction giant Probuild into administration.
Leading independent economist Jonathan Pain says he expects at least four interest rate rises within this calendar year, as monetary policy normalises.
The state government has unveiled plans to transform Highgate’s abandoned Stirling Towers into a build-to-rent development, one of 12 sites to be released for housing projects.
Prominent Perth real estate agent Vivien Yap has launched legal action over threats allegedly made to disrupt her business and cause her "pain and suffering".
The development will include 742 dwellings, including 100 affordable housing units, across four towers of up to 36 storeys, retail and entertainment districts.
ANZ has forecast house price growth to slow as mortgage rates climb in 2022, but says most households are well-placed to weather tighter financial conditions.
DevelopWise has lodged plans to build a second $20 million apartment block in Mount Pleasant, but the City of Melville has pushed for it to be refused.
WA has recorded one of the largest annual construction cost spikes in the nation, with rising materials costs and supply chain disruptions predicted to continue.