Perth recorded another increase in house prices during May, but failed to keep pace with the growth recorded in Australia's other major housing markets.
The Australian economy may be growing at a solid clip with confidence at multi-year highs, but there are few signs people are willing to take on a loan outside of housing.
Creditors have given administrators the green light to delve into the affairs of embattled construction giant Pindan Group, with an investigation of whether there was any insolvent trading.
The state government is expected to introduce a new bill to improve security of payment across the state's construction industry today, one week after the collapse of construction giant Pindan.
Several Western Australian-based property companies were awarded for their developments over the weekend, as part of the inaugural Apartment Awards for Excellence.
The state government has today released funding to facilitate the operation of the asset management arm of Pindan Group, with interest from parties hoping to restructure the business.
The Pindan group paid EY $120,000 to conduct a review of its business in 2019 and again engaged the firm's insolvency experts to provide restructuring assistance in May last year.
The state government has defended its decision to award construction tenders to Pindan, revealing the company passed all financial due diligence checks just six months ago.
Hundreds of affected businesses will gather next Friday for Pindan's first creditors meeting since the construction giant's collapse, as administrators attempt to keep staff in work.
Pindan's Singaporean owner wrote a letter to the group last year confirming it would support all Pindan companies to remain solvent until at least October 2021.
The state government is in the process of investigating the fallout from the collapse of construction giant Pindan Group after three group companies were placed in administration.
The directors of Pindan Group have told staff the company had little choice but to appoint external administrators amid revelations of more than $48 million in losses.
Pindan Group's assets could soon be on the market as administrators EY trawl through the remnants of the construction group, with 500 subcontractors expected to be affected.
Perth-based property funds management company Quadrant Investments has acquired an office building in Midland for $7.25 million as part of its new investment trust.
Former Pindan Group director Nicholas Allingame has launched a multi-million dollar lawsuit against the property giant, as subcontractors walk off their jobs amid rumours about the company's future.
Property developer Saracen is forging ahead with a $23.8 million plan to refurbish East Fremantle's 120-year-old Royal George Hotel and develop apartments beside it.
Fremantle-based building company Gran Designs WA has been slapped with a $175,000 fine for failing to provide a safe workplace after the death of a worker in the South West in 2017.
Edge Visionary Living and Hillam Architects have lodged plans to develop a two-tower development in Scarborough, a few doors down from the Rendezvous Hotel.
The state's administrative tribunal has reaffirmed a decision to reject a contentious $2.1 million childcare centre in Perth's western suburbs, ending an 18-month court appeal process.
