New data from Moody’s shows Perth mortgage delinquency rates are the highest in Australia, despite the capital city also holding one of the highest average incomes in the country.
The McGowan government will introduce its levy on foreign buyers of residential property after the WA Greens and One Nation parties supported the plan.
The Housing Industry Australia has forecast an 8.6 per cent increase in WA’s house building starts in 2019 after four years of declining activity, on the back of positive house building and sales numbers.
Chevron Australia has given the green light to a purpose-built tower at Elizabeth Quay, lodging a development application for a 30-level building for lot seven of the precinct.
Sydney-based SCA Property Group has purchased four Perth shopping centres for a combined $269.4 million as part of a larger deal with ASX-listed Vicinity Centres.
Real estate investment trust Dexus has filled more than half of 240 St Georges Terrace – the Woodside Petroleum building – with Macquarie Bank and engineering group Wood plc committing to about 22,870 square metres of space at the tower.
The downward trend in Perth’s housing market has continued in September, with the latest CoreLogic data showing a 0.6 per cent decline in house prices for the month.
Singaporean group Chip Eng Seng Corporation has struck a deal to sell the White Sands Tavern development site near Scarborough beach for $24.5 million.
A depressed Western Australian housing market has hit residential builders, with the number of housing starts dropping by more than 1,500 in the 12 months to June 30, according to figures released by the Housing Industry Association.
SPECIAL REPORT: Perth’s hotel capacity has increased by about 30 per cent since 2012 and Business News has identified a further 3,150 rooms that are either under construction or committed, as the city’s hotel sector is transformed.
The Property Council of Australia has welcomed proposed laws governing apartment projects in entertainment precincts, but has expressed caution about where the policy applies and its impact on planning approvals.
An improved result in Western Australia, despite challenging market conditions and continued falls in brick selling prices, has helped building materials company Brickworks boost underlying net profit to $223.7 million for the 2018 financial year.
Perth-based The Agency Group Australia has executed an option to acquire east coast real estate group Top Level for $5.5 million, while also announcing an $8.4 million capital raising and a $5 million debt conversion deal.
Property developer Carmel Group and Aegis Aged Care Group have been chosen to build a $100 million multigenerational development at the former Joondalup Basketball Stadium.
BGC Development’s Westin Hotel and Hibernian Place development was picked as the top project in Western Australia in this year’s Urban Development Institute Australia WA awards.
Apartment developer Blackburne is proceeding with its Marina East project on the Ascot marina, with a construction contract awarded to local builder Georgiou Group.
Singapore company Sincap Group has announced a settlement of its long-running commercial dispute with three directors of Perth property developer Devwest Group.
International serviced office provider Regus is close to finalising a lease for new office space at Raine Square, being developed by Charter Hall Group.
The state government has failed to attract a hotel developer at Albany’s Middleton Beach, with a recent expression of interest process bringing no suitable submissions.
