Property

Security of payments has been a hot topic of debate in WA construction, as the state government considers options to protect subcontractors.

There were 666 apartment approvals in inner Perth for the 12 months to February, a sharp fall from 2,069 in the prior corresponding period, which could driven by high supply in a weak market, according to a new report.

Mirvac is trialling a rent-to-buy initiative at its Claremont by Mirvac development, joining a handful of other developers in Australia to adopt an arrangement that is common in the US and Europe.

National developer Mirvac is seeking to leverage the strength of its balance sheet to pursue new opportunities, at a time much of its competition is stifled by a lack of available finance.

Property analyst CoreLogic has suggested the worst of the residential market downturn across Australia has passed after releasing new data showing Perth dwelling prices fell by 0.4 per cent in April, taking the total decline since the market peaked to 18.4 per cent.

The Plunkett family is seeking to sell a major landholding just south of the coastal town of Guilderton, after updating development approvals to address issues that adversely affected an earlier sales campaign.

LandCorp and energy trading platform Power Ledger have unveiled a 100 per cent renewable energy residential development at East Village at Knutsford near Fremantle.

Engineering firm Worley is set to consolidate all its Perth offices at 240 St Georges Terrace, including the recently acquired energy chemical and resources (ECR) division of Jacobs.

A Swedish construction giant will focus on the health and wellbeing of future residents as it rolls out its first development in WA.

Vicinity Centres chairman Peter Hay will retire from the board of the shopping centre operator at the company's annual general meeting in August.

Western Australian apartment investors are overwhelmingly confident of capital growth over the medium to long term, according to fresh research.

Developer 3 Oceans Property is looking for joint venture partners for a redesigned Iconic Scarborough project, after it announced the $450 million project is officially on hold due to the current market making the development financially unviable.

Perth City was the only inner city area to be classed as a building hotspot in Western Australia, with most building approvals occurring in the outer suburbs, according to a Housing Industry Association report.

Shares in the Simon Trevisan-chaired startup, Assetowl, more than doubled today, after it signed a trial agreement with The Agency Group Australia for its property management software.

Housing finance provider Australian Finance Group says lending for homes in the first three months of 2019 in Western Australia has plunged to the lowest level since it began tracking mortgage values in mid-2012.

Apartments developer Momentum Wealth will work closely with the Trigg community to shape the design of its boutique project at the Yelo Café site on West Coast Highway, with retention of a hospitality tenancy on the ground floor a top priority.

Perth-based real estate agent The Agency Group Australia has recorded a bumper March quarter, including its second highest commission revenue for a quarter on record.

A former police officer is spearheading a new campaign to reduce the effects of crime on building sites.

Housing industry players have identified some key issues facing the housing sector, while criticising Labor’s plan for negative gearing.

Perth’s housing market is expected to continue its decline in 2019, with a trough not likely until 2020, according to the latest CoreLogic-Moody’s Analytics house price forecasts, which are substantially more negative than the previous report six months ago.

Commercial property in Perth is emerging as a value proposition for national investors as east coast markets pass their peak.

The state government has turned to the private sector to find a new home for Scitech, after previous attempts to move the organisation to the Perth Cultural Centre fell through.

Confidence is returning to Perth’s apartment sector, with a surge in sales motivating developers to advance new projects, driving the highest level of approvals in the past three years.

Sydney-based property company GPT Group has announced the appointment of Tracey Horton as a non-executive director, the second Western Australia-based director to join its board.

House prices in Perth have continued their downward trend, which has sparked an increase in first homebuyer activity, according to the latest data.

Louis Vuitton will leave its upmarket King Street location and move into the Raine Square redevelopment in the CBD after signing a new long-term lease with Charter Hall.

An authentic indigenous cultural centre could be a key element in the revival of Western Australia’s ailing tourism sector, providing a unique attractor for interstate and international visitors, a recent forum has heard.

Western Australia’s new home of football has helped make the West Coast Eagles the biggest earner in the AFL, while also providing a solid boost to the Fremantle Dockers’ revenue.

Perth’s Yagan Square, developed by the Metropolitan Redevelopment Authority, won two awards at last night’s UDIA National Awards.

Federal Labor will introduce its changes to negative gearing and capital gains tax by January 1 next year if the party wins the May election.

Industrial assets across Perth have become increasingly sought after, with plunging vacancies expected to accelerate sales activity throughout 2019.

Outer suburbs such as Alkimos, Baldivis and Ellenbrook are continuing to account for most of the growth in Perth’s population while inner suburbs like Mosman Park and Subiaco are shrinking, despite long-standing policies to boost urban infill.