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This week's property round-up

OPINION: Sales activity experienced an expansion over the week, with Reiwa members reporting an increase in weekly sales to 583.

Transport noise policy revamp

Striking a balance between transport corridors and urban development is the main objective of a revised planning policy that aims to mitigate road and rail noise for new residential projects.

Liar loans symptomatic of poor home loan practices

ANALYSIS: If a full-blown mortgage crisis were to hit Australia, it will have been brought about by mismanagement at all stages of the home-loan process.

Perth property down 8.8% in three years

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.

City retail strip to become student accommodation

The new owner of 335 Wellington Street, home to the Wellington Surplus Stores for 75 years, has lodged an application with the City of Perth to build a $70 million student accommodation building.

Servtech to build new Reiwa app

Recently listed tech company Servtech Global Holdings has won a contract to develop a new app for the Real Estate Institute of Western Australia.

Servtech sells rent roll for $1.5m

Osborne Park-based software as a service provider Servtech Global has agreed to sell its rent roll business in two parcels totalling $1.5 million to Summit Development Corporation, part of the Summit Homes Group, and Housemart Real Estate.

Kings Square promises unique Freo offering

Property developer Sirona Capital has today unveiled plans for the 5,500 square metres-plus retail component of its $270 million Kings Square project in Fremantle.

Engineering the future of property development

The Perth office of Wood & Grieve Engineers has coupled industry design software with the gaming world to create a new virtual reality tool for land developers.

CBD retail strip sells for $8m

The building on the corner of Wellington and Pier streets, most recently home to the Wellington Surplus Stores, and an adjoining property have been purchased in an off-market deal for $8.4 million.

Entrepreneurs stitch-up sweet live music deal

A Murray Street basement once home to the pattern cutters and seamstresses of Perth fashion label Pierucci is set to become the city’s newest live music venue, The Sewing Room.

Services suite drives seniors’ projects

Service providers and developers are pursuing opportunities in WA’s growing aged care and retirement sector, with a pipeline of property overhauls and new builds worth more than $500 million.

MGroup offerings build post-niche

A gap in the local maintenance and minor works market has provided a business opportunity for integrated property company MGroup.

High-end, big apartments selling

Sales across Perth’s new apartments market are on the rise, with larger apartments offering premium amenities emerging as best sellers.

This week's property round-up

Sales activity contracted over the week, with Reiwa members reporting a decrease in weekly sales to 512.

Work starts on $270m Kings Square Fremantle project

Probuild has today started construction work on Sirona Capital’s $270 million Kings Square Fremantle renewal project, which will comprise a mix of commercial office and retail space, as well as a new administration and civic centre for the City of Fremantle.

Perth house prices lower in August

Perth house prices took another hit last month, with the median slipping 0.8 per cent as the combined value of the nation’s capital cities edged 0.1 per cent higher.

$150 million DFO Perth project under way

Georgiou Group has started preliminary construction work on a new $150 million direct factory outlet near Perth Airport, which will include 120 specialty stores.

Boral hit by WA slowdown

Building products manufacturer Boral has been dented by the continued weak performance of its Western Australian operations, reporting lower underlying earnings and a $20 million asset impairment for its WA bricks business.

GDI strikes $216m deal for Westralia Square

The Insurance Commission of Western Australia has today accepted an offer from Sydney-based GDI Property Group for the Westralia Square office building in the CBD, taking total proceeds from its property sales over the past two years to more than $800 million.

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