Strong property activity trends in October
5 November 2012
The October 2012 Business Activity Profile, released today, shows a marked improvement in the Western Australian property market, according to Landgate, the State's official land information authority.
Landgate Chief Executive Mike Bradford said October's figures reaffirmed the trend in strong property activity since the start of this financial year compared to 2011/2012.
"The figures for October were higher than those from October last year, with overall property activity increasing by 24.1 per cent," said Mr Bradford.
"Property activity in October also increased from September 2012, by 12.2 per cent.
"Transfers of land increased substantially, with 1837 more transfers lodged in October this year compared to the same time last year – an increase of 35.8 per cent."
The number of subdivisional lots created in October also increased, by 53 per cent from September and by 31 per cent from October 2011.
Mr Bradford said last month's figures were the strongest for an October since 2009 and were 2.5 per cent higher than the five year average for the month.
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 October 2012 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.