WA News LIVE: BGC on Iplex pipes issue; Perth house prices

BGC responds to Iplex pipes issue, provides update on Esperance Port

BGC Australia (ASX: BGC) has provided an update on the Iplex pipes issue and the current status of its Esperance Port facility.

The company said that it has been working closely with Iplex to investigate the issue and has taken steps to mitigate the impact on its operations.

BGC said that it has identified the source of the issue and is working with Iplex to develop a solution.

Perth house prices continue to rise, defying national trend

Perth house prices have continued to rise in recent months, defying the national trend.

According to the latest data from the Real Estate Institute of Western Australia (REIWA), the median house price in Perth rose by 1.3% in August to $525,000.

This is the fourth consecutive month that Perth house prices have risen, and the annual growth rate is now at 7.5%.

REIWA President Damian Collins said that the Perth property market is being driven by a number of factors, including strong population growth.

"Perth is a popular destination for both domestic and international migrants, and this is helping to drive demand for housing," Mr Collins said.

"In addition, the local economy is performing well, with unemployment at a record low and wages growing strongly."

Mr Collins said that he expects the Perth property market to continue to perform well in the coming months.

"We are seeing a lot of interest from both first-home buyers and investors, and this is likely to continue as the economy continues to grow," Mr Collins said.

Here are some of the key takeaways from the latest Perth property market data:

• The median house price in Perth rose by 1.3% in August to $525,000.
• This is the fourth consecutive month that Perth house prices have risen, and the annual growth rate is now at 7.5%.
• The Perth property market is being driven by a number of factors, including strong population growth and a strong local economy.
• REIWA President Damian Collins expects the Perth property market to continue to perform well in the coming months.

For more information on the Perth property market, please visit the REIWA website.