Tax reform and a strategy to address the residential rental crisis are among the key initiatives the Urban Development Institute of Australia WA is canvassing the state government to consider as part of its election commitment.
CoreLogic's national home value index recorded positive growth for October, with Perth's housing values up 0.6 per cent amid a tightening rental market.
Eight of Western Australia's nine regional centres recorded an increase in median house prices in the September quarter, with Karratha continuing to achieve by far the biggest gains.
Perth's residential vacancy rate continued to decline over September to 0.96 per cent – only the third time in 40 years it has fallen below 1 per cent.
Perth's housing value remained steady through September as economic conditions in Melbourne and Sydney weighed negatively on the national market, according to new CoreLogic data.
Western Australia will extend COVID-19 emergency laws preventing residential and commercial tenants from eviction, despite opposition from industry groups.
Perth's residential rental market vacancy rate has dropped to 1.6 per cent - the lowest vacancy rate since March 2008, according to the Real Estate Institute of Western Australia.
Property market analyst CoreLogic has reported that Perth's housing values dropped again in July, with both CoreLogic and AMP Capital expecting prices to continue falling amid COVID uncertainty.
Members of the property industry are calling on the government to reconsider its targeted stimulus approach to the sector, warning it could jeopardise broader recovery.
Perth's real estate leaders say the residential property market is shaping up to be more resilient to pandemic-induced fluctuations than initially anticipated.
Property developers and industry groups say the state government's move to extend the stamp duty rebate is a step in the right direction, but hope further reform will remain on the agenda.
Real estate agents and new homebuilders have roundly welcomed the lifting of restrictions that shut display villages and prevented home opens, with the shift expected to help the sector rebound from record low transaction levels.
A six-month moratorium will be placed on the eviction of residential tenants and rent increases will be put on hold for the same period, under new legislation that's been described as a mixed bag by the state's top real estate industry body.
The value of Perth's houses increased 0.5 per cent in the month of March, strengthening the recovery underway for the past six months, but the onset of COVID-19 means the recent gains are unlikely to continue.
Perth's residential property market is proving resilient in the early stages of the novel coronavirus crisis, but agents are bracing for leasing and home sale transactions to grind to a halt in coming weeks.
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.
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.
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.
Rental vacancies continue to fall in Perth's residential property market, with competition between tenants ramping-up, particularly in sought-after locations.
Wembley has emerged as one of Perth's most in-demand suburbs, with time it takes to sell a home averaging just 39 days in 2019, the shortest period in the metropolitan area.
House prices in Perth were steady in December, with days on market reducing and listings also falling, while the rental market has continued to exhibit improved conditions for landlords.
Fresh data on Perth's residential property market points to a long-awaited recovery in 2020, with sales activity tracking higher in the second half of 2019 and supply starting to tighten across in-demand suburbs.
The latest data from Perth's rental market suggests landlords could potentially look forward to rising rents in coming months, with vacancies continuing to decline while leasing activity ramps up across the city.
The Real Estate Institute of Western Australia's latest data has confirmed the dire market for Perth's homeowners, but Floreat, Karrinyup and Mindarie were among the handful of suburbs to record a positive median price shift.
The Real Estate Institute of Western Australia has renewed its push to increase the stamp duty exemption threshold for first homebuyers, as part of a six-point plan it unveiled to help breathe new life into the state's weak residential construction and property markets.
Western Australia's peak property industry groups have called for the establishment of an independent body to decide how local governments manage developer contributions.
Peard Real Estate is exploring a partnership with NASDAQ-listed eXp Realty, part of a consolidation initiative that has resulted in the closure of five offices due to difficult trading conditions in Perth residential property.
The latest REIWA data has confirmed more bad news for those looking to sell their house, but the prices of units experienced a surge in the June quarter.
Perth house prices recorded the biggest decrease amongst state capitals for June, continuing the long-term slump, according to CoreLogic data released on the same day the state government's Keystart stimulus began.
Office Hours host Damian Stone sits down with Real Estate Institute of Western Australia president and managing director of Momentum Wealth Damian Collins to discuss Perth's residential property market, the genesis of Mr Collins' buyers agency and property syndicator and the potential ramifications of regulatory changes in the industry.
