Reaching an ambitious 90,000-resident target by 2050 for the City of Perth requires rate cuts and a city deal, according to the Property Council of Australia WA Division.
Perth's latest office vacancy rate increased marginally since February, but the state's CBD and West Perth markets took out the top spots for most vacancies in the country.
Western Australia's property industry is the second-most positive in the country when it comes to assessing the impact of COVID-19, according to a recent survey.
A slate of planning reforms announced by the state government in May have now passed both houses of parliament, after negotiations with minor parties led to notable changes in how the legislation defines ‘significant' developments.
WA's universities are not the only businesses bearing the brunt of fewer international students, with the economic fallout likely to extend to the state's property, retail and transport sectors.
A wave of home-building and renovation work is the goal of a $444 million stimulus package unveiled by the state government as it seeks to pull the state economy out of a coronavirus-induced downturn.
The state government has introduced a package of planning reform measures that include streamlining approvals for 'significant' developments, with the aim to boost economic recovery.
Brookfield Properties has filled its last vacancy at 123 St Georges Terrace welcoming global recruitment firm Robert Walters on a seven-year lease, the deal settling at a time when Perth's commercial market faces some uncertainty.
Activate Perth chair and mayoral hopeful Di Bain has penned an open letter to the state government lobbying it to spend up to $130 million raised through Perth CBD's parking levy as stimulus for the city's commercial tenants.
Pilbara Ports Authority is shifting its Perth office from West Perth to the CBD, continuing the tenant exodus from the near-city suburb as it moves its premises to a full floor at 999 Hay Street.
Planning Minister Rita Saffioti is offering developers a reprieve from uncertainty caused by the COVID-19 crisis, with a blanket two-year extension of development approvals expected to be announced later today.
Landlords will be forced to reduce commercial rents by the same proportion that the tenant's revenue has fallen due to the COVID-19 outbreak, under a new mandatory code of conduct announced by the federal government today.
A mandatory code of conduct for commercial leases is expected to be finalised by next week, as federal and state governments continue to work towards a mutually-beneficial solution for landlords and tenants affected by COVID-19.
Western Australia's construction and commercial property sectors are bracing for the impacts of the COVID-19 pandemic, with imports of building materials likely to be disrupted and retail activity expected to plunge in coming weeks
Property investment fund Quintessential Equity is sharpening its focus on Perth office assets as it prepares to act on a mandate to invest $300 million across the country in the next 12 months.
The state government's most accomplished minister is planning to retire at next year's state election, dealing a blow to premier Mark McGowan, with a handful of current ministers seen as potential successors should Labor be re-elected.
Property industry lobby groups have called for a bipartisan approach to maintaining stamp duty rebates in the apartments sector, after a robust debate in parliament yesterday revealed the Liberal opposition as a critic of the tax cut.
Professional services and flexible office providers have provided a boost to momentum in Perth's CBD office market, with the Property Council of Australia's vacancy rate continuing to decline and top-quality office accommodation becoming scarce.
Western Australian property professionals are becoming more optimistic around the prospects of a recovery in the state's embattled residential market, despite a national survey showing WA respondents had the lowest expectations across the country for an improvement in capital growth over the next 12 months.
Western Australia's property sector has welcomed the state government's announcement of a $150 million housing investment package for first home buyers and low income earners.
Off-the-plan apartment buyers in Western Australia will receive a 75 per cent rebate on stamp duty for the next two years, capped at $50,000, under a stimulus package unveiled by the state government today that has been roundly welcomed by the development industry.
Premier Mark McGowan says the state government has not considered scrapping its foreign buyer surcharge for residential property to help smooth over tension with Western Australia's biggest trading partner, despite rising concern over risks to the state's economy.
Western Australia's peak property industry groups have called for the establishment of an independent body to decide how local governments manage developer contributions.
This year's Homelessness Week brought together business, government and not-for-profits to figure out how to meet Australia's affordable and social housing needs.
Perth's office market has emerged as the hottest leasing market in the country, with falling vacancies putting upwards pressure on rents in top-grade office stock.
Despite Perth's house prices continuing to fall, confidence in Western Australia's property industry is now the second highest of any state or territory, according to a new survey.
The state government will not consider pausing or scrapping its surcharge on foreign property purchasers, despite a sharp reduction in sales to offshore buyers and growing scepticism around whether revenue will meet projections.
Property Council of Australia WA executive director Sandra Brewer and Urban Development Institute of Australia WA chief executive Tanya Steinbeck join Damian Stone to discuss the recent state budget, property industry initiatives to promote gender diversity, and whether the property industry has an image problem.
A decreasing office vacancy rate and improving fundamentals in the wider economy have failed to halt the slide in confidence in Western Australia's commercial property sector.
Developers across Perth's CBD are positioning themselves to ride the city's next wave of office development, with options for tenants with large space requirements becoming scarce despite an overall vacancy rate of 18.5 per cent.
Perth's office vacancy rate has fallen to its lowest level since 2015, with increasing momentum in commercial leasing reflecting brighter sentiment across Western Australia's business sector.
SPECIAL REPORT: Elections always bring uncertainty for business, but in 2019 the difference between the major parties is among the starkest in decades.
Leaders interviewed for the annual Business News CEO survey suggest that forward-looking decisions on energy policy and tax will be vital for WA's future prosperity.
