Property

New home sales are continuing to decline in Western Australia, falling 5.6 per cent in September, according to the latest report from the Housing Industry Association.

The owner of South Perth’s Metro Hotel is going ahead with a 53-room expansion, despite a softening in demand for Perth hotel rooms, with Cooper & Oxley signed to carry out construction.

A western suburbs real estate agency has set up a dedicated China marketing arm, as growing numbers of Chinese developers eye Perth’s burgeoning apartment market for large project opportunities.

The Piccadilly Arcade is set for a $12 million upgrade, with a development application to restore the historic mall lodged with the City of Perth.

Sales activity is stalling in Perth’s established homes market, with the level of transactions exceeding long term averages just twice since the GFC.Analysis of established home sales by the Real Esta

The state government will legislate to include the University of Western Australia, Kings Park, the QEII Medical Centre and the City of Vincent in the City of Perth, but will not include the Burswood Peninsula after that proposal was rejected by the independent Local Government Advisory Board.

Record building approvals in 2013-14 have resulted in an all-time high of dwelling commencements in Perth, but the latest data show housing construction may have hit the peak of the cycle.

Aquila Resources founder Tony Poli has emerged as a potential buyer for the Port Geographe development, in a move that could breathe new life into the long-stalled coastal project.

The Leederville Fire Station building has been placed on the market, with commercial agents Colliers International and Burgess Rawson putting a $1.1 million price tag on the heritage-listed property.