Subdued WA property market shows mixed signals
The number of documents lodged at Landgate last month was three per cent lower than March 2016.
Landgate’s Business Activity Profile (BAP) for March 2017 showed that 25,154 documents were lodged compared with 25,930 in March last year.
Landgate Chief Executive Jodi Cant said that although the total number of documents lodged in March 2017 was slightly down, electronic advice of sale (EAS) and searches increased for the fourth consecutive month.
“March 2017 data shows a 15 per cent increase in EAS and 13 per cent increase in searches compared with February 2017,” Ms Cant said.
“An increase in Electronic Advice of Sale and Search activity generally indicates an increase in transactions over the following two months.”
Transfer and mortgage lodgements also increased 28 per cent and 17 per cent respectively compared with February 2017.
The March BAP 2017 is available on Landgate's website and contains a breakdown of figures relating to transfers, mortgages, caveats, searches and other categories of property related documents.
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