Strata developments bucking the trend of sluggish property market
New figures from Landgate show the number of property transactions in Western Australia continued a downward trend last month.
Landgate’s Business Activity Profile (BAP) for April 2016 shows a 3.42 per cent decrease in the total number of documents lodged compared to the previous month.
Landgate Chief Executive Mike Bradford said despite this, there was positive news.
“The number of new lots created was 3,064, which was more than 20 per cent higher than March 2016,” Mr Bradford said.
“However, this figure was nearly eight per cent lower than the same time last year when there were 3,319 lots created.
Strata developments continued to climb and exceed monthly three year averages.
“This month 1,399 strata lots were created, the highest monthly figure since May 2007,” Mr Bradford said.
The April 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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