The latest data from the Australian Bureau of Statistics shows Perth’s house prices are down on the last quarter, while the ANZ is forecasting further house price falls for the state in the next two years.
Property developers Mike Hollett and Chris Harrison have gained backing from Wyllie Group for a 250-lot lifestyle village in Northam, adding to a string of projects collectively worth about $200 million in the shire.
Perth house prices have increased 6.7 per cent per annum over the past 25 years, behind only Melbourne and Sydney, with southern suburb Leda among the country’s top performing in that time, according to a study released today.
SPECIAL REPORT: Confidence is returning to the state’s apartment market, with developers seeking to boost their project pipelines. Click through to see our map with 30 apartments projects across Perth and our updated ranking of Property Developers.
The state’s residential builders may have struggled through a slowdown in activity in recent years, but that hasn’t stopped Summit Homes Group from pushing ahead with its $20 million investment in a new headquarters and client hub.
The state government has backed plans for a 700-bed workers camp at Karratha, despite opposition from the local community, after Woodside Petroleum launched a website that is meant to boost local employment on future gas projects.
Perth house prices have declined or remained steady in four of the past five months, according to the latest data from CoreLogic, while national values posted the first annual decline in more than five years.