Cedar Woods Properties is gearing up to launch its first infill development in Western Australia, after agreeing to acquire a development site in Subiaco for $15 million.
Property analyst CoreLogic has suggested the worst of the residential market downturn across Australia has passed after releasing new data showing Perth dwelling prices fell by 0.4 per cent in April, taking the total decline since the market peaked to 18.4 per cent.
Perth's housing market is expected to continue its decline in 2019, with a trough not likely until 2020, according to the latest CoreLogic-Moody's Analytics house price forecasts, which are substantially more negative than the previous report six months ago.
Treasurer Josh Frydenberg's budget has been welcomed in the building and construction sector, with the Housing Industry Association saying its new initiatives will have a positive effect on housing affordability and the Master Builders Association saying it will promote economic growth.
Perth recorded 1,609 lot sales for the September 2018 quarter, up by 8.5 per cent for the quarter and 2 per cent from a year prior, according to the latest Housing Industry Association–CoreLogic 'Residential Land Report'.
Residential property values in Perth are likely to continue to fall throughout 2019 before bottoming out in 2020, according to CoreLogic analyst Cameron Kusher, continuing the longest and largest price correction in the city's history.
Perth home values dipped again in February, with increasing activity in transactions under $500,000 putting downwards pressure on the city's median price.
Perth's median house price fell by 1.1 per cent in January, contributing to a 5.6 per cent fall in the last 12 months according to the latest data from market analysts CoreLogic.
Property investors in Perth are facing a bleak outlook, according to new research, which showed a combination of oversupply of units and apartments, lending restrictions and low rental returns would result in 15 per cent negative growth over the next five years.
Fresh forecasts have delivered a mixed outlook for Perth residential property in 2019, with CoreLogic-Moody's Analytics predicting another year of median house price declines, while Domain expects the Western Australian capital to be Australia's best-performing city.
Access to credit will remain the most significant barrier to house price growth in 2018, in Perth and across the nation, according to market analysts CoreLogic.
Opinion: All signs point to a tough year ahead as international trade events meet tightening credit conditions amidst falling house prices and likely changes to negative gearing.
CoreLogic has revealed a decline in Perth house prices for November, which is at odds with the Real Estate Institute of Western Australia's data suggesting prices increased last month.
Perth house prices have risen for the second straight month, according to new data from the Real Estate Institute of Western Australia, which released its monthly figures today ahead of market analyst CoreLogic.
Two sets of data out today have sent mixed signals about the Perth property market, with Reiwa figures revealing a lift in house prices in October, while Corelogic says they fell for the month.
The downward trend in Perth's housing market has continued in September, with the latest CoreLogic data showing a 0.6 per cent decline in house prices for the month.
The Perth residential rental market continues to show signs of improvement, with the vacancy rate falling to 4.5 per cent in August, according to the Real Estate Institute of Western Australia.
Perth house prices have fallen for a fourth straight month, after registering a 0.6 per cent decline in August, according to the latest data from CoreLogic.
Perth house prices suffered their largest monthly decline in almost a year, after slipping 0.8 per cent in July, according to the latest data from CoreLogic.
Two reports out today highlight the weakness in Western Australian property prices over the past decade, including dramatic falls in some regional pockets, but the upside is the state has the most affordable housing across the nation.
Perth's house values will decline for another year but are tipped to recover in 2019, a report released today has found, conflicting with an ANZ analysis from earlier this week that predicted further house price falls for the state in the next two years.
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.
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.
Perth continues to take out the title of Australia's most affordable capital city when it comes to buying houses and apartments, driven by lower property prices and low interest rates, a report released today has found.
Having shown recent signs of improvement, Perth house prices were steady in April, while the national market continued its downward trend, according to the latest data from CoreLogic.
Perth house prices were up 0.3 per cent in March, and have risen in four of the past six months, according to the latest data from CoreLogic, adding to hopes of a sustained improvement in the residential property market.
Moody's Analytics is forecasting continued weakness in Perth's residential property market this year but a return to positive growth in 2019, with Perth's western suburbs and Mandurah tipped to be the best-performing regions.
Perth house prices fell 0.4 per cent in January, according to the latest data from CoreLogic, though its figures have disguised big gains in some of Perth's more affluent suburbs.
Perth home prices have risen for the third straight month for the first time since 2014, according to the the latest CoreLogic home value index report.
The combination of lower property prices, low interest rates and small increases in household incomes has made housing affordability in Perth the best it has been for 10 years, and the best of any
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.
ANALYSIS: Positive news on employment and among some key commodities appears to mark a positive trend for the state's economy, and Business News' BN30 stock index backs that up.
