Western Australian property activity remains at historic lows
12 May 2011
Activity in the Western Australian property market remains at record lows according to the State's official land information authority.
Landgate Chief Executive, Mike Bradford, said the Business Activity figures released today show property activity in April was the lowest for 16 years.
The Business Activity Profile covers all property related documents lodged with Landgate and is a key indicator to the state of the property market in Western Australia.
Mr Bradford said while the first half of the 2010-2011 financial year had seen the lowest levels of activity for a decade, the second half was proving worse.
"The low April figure came on the back of March which was the worst for 14 years, and January and February which saw the lowest activity for nearly two decades.
"The April document lodgements were 37.6 percent down on the same period in the boom year of 2005-2006, and the year to date total is one third down on the peak at the equivalent time of year."
Mr Bradford said on current trends the 2010-2011 financial year is shaping up to have the lowest levels of activity since the early 1990s.
Landgate's April Business Activity Profile is available on the Agency's website and 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 7066