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State of Markets - WA April 2012

By Staff Reporter

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

WESTERN AUSTRALIA

Perth city to be linked to Northbridge

Work on the Perth City Link has officially begun, with one of the first stages to connect the city centre with the suburb of Northbridge by rail.

The $360 million rail line, to be completed in 2014, forms the main part of the Perth City Link project.

The minister for state development, Colin Barnett, said that this would fundamentally change the face of Perth and would reconnect the CBD with the area for the first time in a century.

“This project is expected to attract more than $3 billion of private investment into our state and play a vital role in establishing Perth’s reputation as a world-class city,” he said.

“In addition to new entertainment, cultural and lifestyle choices for the WA community, the Perth City Link will also help meet a shortage of inner-city residential, commercial and visitor accommodation [and is] necessary to support the state’s long-term economic growth.”

There will be a number of upgrades to Perth station and changes to improve amenities for 44,000 stations.

Retain building industry rules: govt

The Western Australia state government is pushing for the retention of the industry watchdog, the  Australian Building and Construction Commission (ABCC).

Keeping federal building industry-specific laws will ensure that action is taken against building officials who breach rules, including those around industrial relations, the government has claimed.

Commerce minister Simon O’Brien said the federal government’s intention to reduce legal requirements should be of concern to the state.

Mr O’Brien encouraged the rejection of any legislative changes that aim to abolish the ABCC or reduce penalties for unlawful strike action.

“We need a tough cop on the beat – like the ABCC – to put a stop to unions and their officials who disregard the rule of law,” Mr O’Brien said.

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Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
FAIRLIGHT 46.02%
2.
CASUARINA 44.36%
3.
THE ENTRANCE NORTH 41.09%
4.
ULTIMO 40.67%
5.
LAVENDER BAY 40.2%