SPECIAL REPORT: WA’s residential land developers are cautiously positive the market is rebounding, but likely economic disruption from the COVID-19 pandemic could press pause on the recovery.
Primewest has postponed the spin-out of a new $285 million commercial property trust, citing market volatility, with Macquarie Bank and rent.com.au among other listed companies to change their capital raising plans.
Home loans in Western Australia have reduced in value by 6.4 per cent in January, while the national figure increased by its fastest rate since mid-2019.
Western Australia’s planning system is at risk of delivering vanilla precincts that are replicas of one another if it continues its focus on policies and processes.
Perth’s residential rental market is tightening significantly, with prospective tenants offering lease terms above the listed price in some locations as supply continues to fall.
The Housing Industry Association is projecting an improvement in Western Australia’s home building market by the end of this year, citing an increase in population, building approvals and private house sales as cause for optimism.
SRG Global has secured a major portion of construction works at Chevron’s new headquarters, currently being built at Elizabeth Quay, under a $72 million contract with Multiplex.
Perth-based contractor Decmil has disclosed that its $185 million contract with New Zealand’s prisons department has ended early, with the client halting payments and seeking to apply liquidated damages.
ASX-listed developer Mirvac is shifting its focus to the Burswood Peninsula as its $350 million Beachside Leighton precinct reaches the final stages, with the company’s fourth residential building at the coastal enclave having recently topped out.
A focus on the emerging downsizers market and collaboration with some established firms has proved a successful strategy for one of Perth’s newest developers.
Property investors believe Perth has the strongest potential for growth of any capital city in Australia during the next three years, according to a new national survey.
Planning Minister Rita Saffioti’s decision to allow for higher density around Daglish and Shenton Park train stations has been described by the state opposition as chaotic and erratic, but the minister says any new development will be at an appropriate scale and respect the local character and context.
New housing finance data is painting a positive picture for Western Australia’s residential property sector, with both the value and the number of loans increasing in the last three months of 2019.
Primewest is diversifying its portfolio into agricultural assets, fresh from announcing it would spin-out five office properties in Perth and Brisbane into a new ASX-listed trust.
Sustainable building practices have moved past being a niche marketing tool to a buyer expectation, according to boutique apartments developer OP Properties.
Property group Mirvac has lifted its interim dividend following a 21 per cent gain in first-half operating profit to $352 million, though the firm's net result slipped.
Subiaco’s fortunes are on an upswing after years plagued by high retail vacancies, high-profile hospitality closures and an uncertain future with the exit of AFL football to the Burswood Peninsula.
A coastal village featuring a hospitality precinct and a new jetty will be the centrepiece of a $425 million housing estate in Port Kennedy, which will be developed over the next decade.
Private companies and not-for-profit businesses play a prominent role in the West Australian economy, with annual revenue at the top 20 exceeding $32 billion, according to data compiled by Business News.
Perth housing values remained flat during January in contrast to most other capital cities, which experienced strong growth in December to finish out 2019 on a positive note, according a report from CoreLogic.
Closing the Perth City Deal, tackling homelessness and antisocial behaviour, and providing opportunities for population growth are expected to be the top challenges for a new chief executive of the City of Perth.
Perth’s embattled CBD retail market is undergoing a bottom-up revival, with strong enquiry from prospective food-and-beverage operators despite a number high-profile chain stores closing their doors.
A series of large-scale residential and commercial projects are expected to get under way in Perth this year with a development pipeline nearing $2 billion in value.
Western Australia recorded the largest new home sales growth over the quarter of any Australian state, as the broader housing market begins to show signs of a recovery.
A court has dismissed a claim of copyright infringement brought by Novus Homes against a homebuyer and a rival builder, ending two-and-a-half years of court proceedings and mediation.
Australians buying homes with at least a seven-star energy rating will be eligible for discounted loans under a new scheme through the federal government's green bank.
Gerard Matera is helping turn positive sentiment around Aboriginal reconciliation in the business community into genuine change through indigenous-owned building company Marawar.
