The property industry is more confident in Western Australia than many other parts of the country, but some in the sector are warning that major policy changes could damage this outlook.
Property industry bodies have congratulated the McGowan government on passing the Strata Titles Amendment Bill 2018 through Parliament, which it says will bring a range of benefits for strata living arrangements through better regulation of strata managers and improved dispute resolution processes.
Despite a fall in Perth's median house price in the September quarter, nearly 60 suburbs bucked the trend to record a price increase, according to the latest data from Real Estate Institute of Western Australia.
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.
Former National Lifestyle Villages marketing general manager Sandra Brewer has been named the Property Council of Australia's new Western Australian executive director.
Property executives John Gelavis and Allison Hailes have both left their respective roles this week, with Mr Gelavis selected to head the Master Builders Association of WA.
The worst may be over for Perth's office market, with the latest statistics pointing to another fall in vacancies, dropping slightly from 19.8 per cent to 19.4 per cent in the six months to July, according to the Property Council of Australia's mid-year office market report released today.
Sentiment towards Western Australia's housing market fell during the second quarter of 2018 but the state is expected to lead the country for residential property capital growth over the next two years, according to a survey of industry professionals.
Broadening the scope of the state government's Metronet rail project to include existing station precincts as a means to deliver short-term development opportunities was among the key recommendations outlined in an Urbis report released today.
Former Business News 40under40 winner Sally Capp has been elected as Melbourne's lord mayor, joining a growing list of past winners who have gone on to bigger things since claiming the award.
A Singaporean investment manager has bought the Sunmoon Boutique Resort in Scarborough for $8.3 million, with plans to transform the property into one of Australia's first build-to-rent projects.
Blackburne's Aria Swanbourne luxury apartments has been named Western Australia's development of the year, following an awards ceremony held by the Property Council of Australia WA and Rider Levett Bucknall last night.
SPECIAL REPORT: Building company collapses leaving projects unfinished and subcontractors empty-handed have prompted calls for a different approach to assessing security-of-payment laws.
The Property Council of Australia has called on the state government to rule out increasing property taxes in the 2018-19 budget, as the local housing market continues to shows signs of recovery.
Spacecubed's expansion plans are taking shape, with the social enterprise re-branding its original co-working space and using design as a key part of its business strategy.
SPECIAL REPORT: Rita Saffioti is stamping her mark on the transport, lands and planning portfolios she took on last March, initiating a number of major reviews and appointing several industry figures to key roles.
Perth's CBD office market vacancy is improving, but there's a growing gap between different market segments, with premium product luring tenants at the expense of lower-grade stock.
Singaporean-listed OKP Holdings has made its first foray into Australia, via the purchase of an East Perth property for $43.5 million from BGC directors Andrew and Sam Buckeridge.
A new state government advisory body to improve analysis and transparency of major projects, Infrastructure WA, will begin work next year, according to Premier Mark McGowan, who launched a draft plan for its establishment today.
Early signs of recovery are starting to emerge across Perth's CBD office market, with vacancy rates falling below 20 per cent for the first time in two years, according to the Property Council of Australia.
The Metropolitan Redevelopment Authority has disclosed that the majority of public submissions on the $450 million Iconic Scarborough development supported the project, but said all government agencies and utilities it consulted, with the sole exception of Tourism WA, opposed it.
The Metropolitan Redevelopment Authority has rejected a $450 million proposal for two towers near Scarborough beach with the developer behind the project, 3 Oceans Property, saying the decision was a missed opportunity to show courage and vision.
The state government has announced a progressive merger of its two land development agencies, LandCorp and the Metropolitan Redevelopment Authority, with the property industry calling for the new agency to retain the planning approvals powers held by the MRA.
The state government has been encouraged to follow the lead of NSW and South Australia and privatise its land registry agency, Landgate, which posted a net profit of $20.1 million last financial year.
SPECIAL REPORT: WA's residential property sector is starting to show signs of stabilising, amid increased industry innovation and evolving housing types.
Perth residential property prices fell 0.8 per cent in the June quarter, to be down 3.1 per cent across the financial year, according to data released by the Australian Bureau of Statistics today.
Perth's ailing office market could be on the mend, with the CBD recording the largest drop in vacancies of any capital city during the past six months, according to the Property Council of Australia.
Developing along Perth's coastline has traditionally been one of the biggest challenges in WA property, but a new wave of projects promises to change the status quo.
SPECIAL REPORT: Labor's victory in the March state election heralded a major shift in infrastructure priorities for Western Australia, and even further changes are likely as the McGowan government seeks to balance its promises with fiscal reality.
