August property transactions at six year low
Landgate’s latest Business Activity Profile (BAP) showed the total number of documents lodged with the agency in August was 26,832, the lowest number for that month since 2010 (26,275).
However, Landgate Chief Executive Mike Bradford said the number of documents lodged in August was 14.7 per cent higher than July 2016.
“The increase was spread across all document types. New lot creations in August rose nearly 20 per cent compared to July due mainly to an increase in subdivision and strata lots,” Mr Bradford said.
“Other increases of note were the lodgements of transfers and mortgages, which increased 15 per cent and 18 per cent respectively.
“There was also a slight increase of 1.83 per cent in the number of early advice of sale documents.”
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 August BAP 2016 is available on Landgate's website. It provides the monthly total of all documents lodged with sections detailing transfers, mortgages, caveats, searches and other categories of property related documents.
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