New data shows continued decline in the property market
Landgate’s July 2016 Business Activity Profile (BAP) reports the continuation of a significant decline in Western Australia’s property market.
The total number of documents lodged in July 2016 was 23,394, a 23 per cent decline from June 2016 (30,934) and a 23 per cent decline compared with July 2015 (30,525). It is also the lowest July since 2011/12 (22,925). This figure is well below the three year average for July of 30,895 total lodgements.
The exception to the downward trend was the total number of subdivisional lots created in the month of July. This showed an increase of seven per cent compared with June 2016. However, when compared with July 2015, subdivisional lots created showed a 30 per cent decrease.
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 July BAP 2016 (PDF 0.8MB) 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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