Developer squeeze

Property developers are doing it tough as banks keep the sector on their watch lists.

APPROVALS for property developments remain a major issue to the sector, which believes the delays caused by bureaucracy and regulatory hurdles are a huge financial burden.

WHEN the global financial crisis hit less than a year after listed property developer Peet had paid $300 million for a 243-hectare land parcel at the northern fringe of Perth, many questioned the wisdom of that purchase.