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 Housing Industry Australia has forecast an 8.6 per cent increase in WA’s house building starts in 2019 after four years of declining activity, on the back of positive house building and sales numbers.
Real estate investment trust Dexus has filled more than half of 240 St Georges Terrace – the Woodside Petroleum building – with Macquarie Bank and engineering group Wood plc committing to about 22,870 square metres of space at the tower.
A depressed Western Australian housing market has hit residential builders, with the number of housing starts dropping by more than 1,500 in the 12 months to June 30, according to figures released by the Housing Industry Association.
SPECIAL REPORT: Perth’s hotel capacity has increased by about 30 per cent since 2012 and Business News has identified a further 3,150 rooms that are either under construction or committed, as the city’s hotel sector is transformed.
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.