Upturn in property activity
27 September 2011
The month of August has seen an increase in property activity in Western Australia, according to Landgate, the State's official land information authority.
Landgate Chief Executive, Mike Bradford, said the August 2011 Business Activity Profile released today shows a notable increase in property activity compared to last month.
"The August 2011 document lodgement figures are up 20 per cent on July's figures and show an increase of 5 per cent compared to August 2010.
"Although there is usually a seasonal upturn in August, the increase of 20 per cent is the largest we have seen in six years," said Mr Bradford.
Figures for August 2011 still point to a subdued market, with overall property activity down 25 per cent on the boom years of 2005-2006.
Landgate's Business Activity Profile covers all property-related documents lodged within Landgate and is a key indicator of the state of the property market in Western Australia.
The August Business Activity Profile is available on Landgate's website. It provides the daily average of all documents lodged, with sections detailing land 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