New residential land sales have dropped 17 per cent in the last quarter and 4.6 per cent this financial year, Urban Development Institute of Australia figures reveal.
Buyers earning up to $180,000 on a single income will be able to access a new home loan as part of the state government's bid to have more people living in apartments closer to the Perth CBD.
Apartment sales in Perth seem to remain strong as developer Blackburne boasts only three vacant penthouses out of its 236 apartments at its One Subiaco development.
Wanneroo council has pushed for the refusal of Woolworths' $16 million commercial precinct proposal, despite the city's administration originally backing the plan.
Sales activity in Perth's new apartment market has slowed, as developers flag concerns about rapidly increasing costs amid competition with the residential housing construction sector.
Woolworths will shelve plans to demolish the former Clarkson Bunnings to make way for its newest shopping centre, shaving $2 million off the cost and halving its carbon footprint.
Scentre Group has offered a first look at its $500 million expansion plan for Westfield Booragoon, with retail tenancies, outdoor dining and an entertainment precinct.
Perth's market for new apartments recorded its strongest quarter of sales activity since 2016, according to the latest research from property consultancy Urbis.
Far East Consortium's proposal to deliver a 15-storey mixed-use development on the corner of Roe Street and King Street has been recommended for approval.
The state's peak planning body has given property developers Yolk Property Group the green light to build a $24 million hotel on Fremantle's renowned cappuccino strip.
Woolworths' private development arm has lodged plans to build a $26.5 million shopping centre on Murray Street adjacent to the former Princess Margaret Hospital site.
Australia's apartment markets continue to lag in the country's broader housing market recovery, reports have found, however momentum is building in Perth.
Property developers are undeterred by the trend towards working from home, with new plans for a 14-storey office the latest in a series of proposed CBD projects.
Perth's new apartment market recorded more than 400 sales during the fourth quarter of 2020, the highest volume recorded for a quarter since 2016, according to the latest data from Urbis.
The state government's new $25 million Transport Operations Centre has been given the green light this morning, a development expected to form the nerve centre of Perth's rail system.
A new $25 million Transport Operations Centre, expected to form the nerve centre of Perth's rail system is another step closer to fruition, with the City of Vincent recommending its approval.
Developers are pushing ahead with plans for new projects, hoping recent government initiatives aimed at stimulating the sector will help cushion any further COVID and economic blows.
A series of large-scale residential and commercial projects are expected to get under way in Perth this year with a development pipeline nearing $2 billion in value.
Global manufacturer Alstom has signed a 10-year contract to assemble new railcars at Midland as part of the Metronet project, with the government saying the railcars will be delivered 22 per cent below its budget at $1.25 billion.
The state government is making a major push for more medium-density housing, but market conditions and community sentiment loom as major hurdles for developers.
