Downsizing in the resources sector is outstripping emerging demand from technology, medical and education businesses for CBD office space according to a new report by independent property research firm Y Research.
Gold has fallen nearly one per cent, sliding from a two-month peak as investors take stock of US President Donald Trump's first policy moves and the US dollar stabilises after plumbing seven-week lows.
The collapse of yet another Western Australian residential builder appears set to further upset the delicate state of the sector, with financiers, insurers, 350 trade creditors and as many as 130 home owners facing losses.
A higher iron ore price has helped Atlas Iron post operating cash flow of $58 million in the December quarter, as the company maintained that it would reach a net cash position by the middle of the year.
The Australian dollar is virtually unchanged against its US counterpart which has fallen to a seven-week low against a basket of key world currencies amid investor concerns over protectionist rhetoric by US President Donald Trump.
One of state's biggest residential construction firms, Builton Group, has succumbed to the financial stresses engulfing the sector, appointing an external administrator earlier today after reports of the company's financial troubles emerged last week.
The parent company of self-storage business KeepSafe Storage has announced plans to open its third facility in Western Australia, committing $10 million towards the purchase of land in Welshpool and construction of the new site.
Australian Competition and Consumer Commission chairman Rod Sims has written to the local branches of two trade unions, saying they misrepresented his views on the float of Western Power in a recent advertisement campaign.