Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

State of Markets – WA August 2012

By Simon Parker
01 August 2012 | 1 minute read

Essential information, plus expert insight on what is shaping the national property market...

WESTERN AUSTRALIA

WA Government moves to fast-track construction
The Western Australia Government has responded quickly to bad news from the building industry by introducing legislative changes that will allow developers to begin construction more quickly, commerce minister Simon O’Brien has announced.

Advertisement
Advertisement

Following introduction of the WA Building Act in April of this year, both building applications and approvals fell by almost half, a fact of which the government is aware, Mr O’Brien said.

The 46.7 per cent drop in April, recorded by the ABS, prompted the move to allow construction to begin pending approval so as to encourage an upturn in building that would immediately relieve the construction industry.

“This temporary measure will assist builders in avoiding protracted delays before starting construction, but will not remove the industry’s obligation to meet all necessary standards,” Mr O’Brien said.

$80m to fuel regional ‘SuperTowns’
$80 million has been pledged by the WA Government to fuel growth in specified regional areas through multiple strategies, with nine ‘SuperTowns’ set to benefit from funding under the ‘Royalties for Regions’ program.

Boddington, Collie, Esperance, Jurien Bay, Katanning, Manjimup, Margaret River, Morawa and Northam are the towns nominated to receive the funding. Small business development will be given a boost at Boddington, Esperance and Manjimup, where infrastructure upgrades will also be put in place, with the aim of enabling housing development.

“It is expected that the projects being funded under this scheme will not only boost amenities in the towns but also attract future investment from government and public and private companies in regional Western Australia,” said Premier Colin Barnett.

Regional development minister Brendon Grylls said the Super Towns would provide an alternative to living in Perth.

“With the population of the state set to more than double by 2050, Super Towns will benefit from an increased population and help to ease pressure on the metropolitan area,” Mr Grylls said.

State of Markets – WA August 2012
default
lawyersweekly logo

 

 

Subscribe to our RPM
mailing list

 

Do you have an industry update?

top suburbs

12 month growth
Queenton
69.76%
Flying Fish Point
69.61%
Point Piper
69.17%
Glenelg South
69.02%
Pretty Beach
69.01%
Bar Beach
68.9%
Northampton
68.7%
Kembla Grange
66.91%
Gnarabup
66.67%
Boomerang Beach
66.67%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.