Slight increase in property activity for November
15 December 2011
The month of November has seen a slight increase in property activity according to Landgate, the State's official land information authority.
Landgate A/Chief Executive, Jodi Cant, said the November 2011 Business Activity Profile, released today, shows property activity is up 10 per cent compared to last month.
"The number of mortgages lodged during October also increased almost 10 per cent from October and increased by 1.4 per cent from November 2010," said Ms Cant.
"Although this upturn is encouraging, it's important to keep it in perspective.
"Total document lodgement figures for November 2011 are still down around 3 per cent on figures from November 2010 and are the lowest November figures in 11 years."
Total document lodgement figures for 2011-12 financial year to-date are down 32 per cent in comparison to the same time in the boom years of 2005-06.
Landgate's Business Activity Profile covers all property related documents lodged within Landgate and is a barometer of the state of the property market in Western Australia.
The November Business Activity Profile is available on Landgate's website. It provides the daily average of all documents lodged, with sections detailing transfers, mortgages, caveats, searches and other categories of property related documents.
Landgate is Western Australia's primary source of land information and geographic data, providing the accuracy government, business and individuals rely on.
Phone: +61 (0)8 9273 7564