Improvement in January’s property activity
20 February 2012
The first month of 2012 saw an increase in Western Australia's property activity according to Landgate, the State's official land information authority.
Chief Executive, Mike Bradford, said the January 2012 Business Activity Profile, released today, showed an increase in property activity compared to January 2011.
"The total number of documents lodged in January increased by 14 per cent compared to the same period of time last year", Mr Bradford said.
"This improvement was buoyed by the number of strata lots created in January, which increased by almost 6 per cent when compared with January last year.
"However, with the exception of the anomalous year the GST was introduced, 2000-2001, the figures for this financial year to date are the lowest figures seen since 1996-1997."
Mr Bradford said the figures still pointed to a subdued market.
"Overall property activity for January was down 33 per cent compared to January in the boom years of 2005-2006", Mr Bradford said.
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 January 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 7514