The Sunday Times In what was the first rate change since August 2016, the cash rate fell from 1.5 per cent to 1.25 per cent. REIWA president Damian Collins said the cut could assist in reducing financial pressures for those who were trying to enter the property market and also current homeowners. “By banks passing […]
The West Australian Blocks smaller than 100sqm must not be the predominant type of housing on a street, under new State Government guidelines. A position paper on microlots released yesterday says the small blocks should be allowed in certain areas to assist in housing affordability, create dwelling diversity and ease downsizing opportunities, but should not […]
WA Business News Prominent Perth architects Peter Lee and Dominic Snellgrove are among those entrusted with the responsibility of ensuring future projects in Western Australia are of exemplary design, with the state government naming its expert panel for the Design WA initiative. Planning Minister Rita Saffioti last month unveiled a pool of 50 experts to […]
The West Australian The number of students who live in the city centre may outstrip resident professionals as construction starts next month on the third student tower in postcode 6000. The $38 million, 39-storey skyscraper on Wellington Street — where student rooms will tower over Bankwest in neighbouring Raine Square — will be the fifthtallest […]
The Sunday Times The Australian Prudential Regulation Authority (APRA) has announced it is considering reducing the seven per cent oor on serviceability calculations for residential mortgages, instead allowing banks to assess loans at 2.5 per cent above current rates. Currently, APRA requires lenders to assess whether or not a consumer can afford a loan […]
UDIA WA is pleased to partner with The West Australian to deliver The Land Report lift out in The Weekend West and Sunday Times two times a year. Featuring the latest land market data, trends and advice for new home buyers. Please download a copy of the May 2019 edition here.
COMMUNITY NEWS While parts of Australia are reeling from Saturday’s election result, the property industry has welcomed the outcome. Reiwa president Damian Collins said the Coalition’s victory meant there would be no change to national property taxes, like negative gearing and capital gains tax, which was a big win for the Australian housing market and […]
WA BUSINESS NEWS The state government will not consider pausing or scrapping its surcharge on foreign property purchasers, despite a sharp reduction in sales to offshore buyers and growing scepticism over whether revenue will meet projections. In January, the McGowan government instituted a 7 per cent tax on offshore purchasers of property in Western Australia, […]
THE WEEKEND WEST Not enough is being done to create more significant stimulus measures for the struggling property market, according to UDIA WA CEO Tanya Steinbeck. Ms Steinbeck’s view came off the back of the Western Australian State Government’s handing down of the 2019-2020 Budget last Thursday, during which WA Treasurer Ben Wyatt announced WA’s […]