The first quarter of the 2011 financial year has delivered the lowest property activity in over a decade according to Landgate, the State's official land information authority.
Landgate Chief Executive, Mike Bradford, said the September 2011 Business Activity Profile released today indicates the property market in Western Australia is still in a very subdued state.
"Despite an upturn in August, document lodgement figures for the first quarter of 2011 are the lowest in 11 years," said Mr Bradford.
The Agency's document lodgement figures for September 2011 show a decrease of 10 per cent compared to August's figures and are down almost 5 per cent from September 2010.
Overall property activity for 2011-2012 so far is down 30 per cent on the boom years of 2005-2006.
Landgate's Business Activity Profile covers all property-related documents lodged within Landgate and is a key indicator of the condition of the property market in Western Australia.
The September Business Activity Profile is available on Landgate's website. It provides the daily average of all documents lodged, with sections detailing land 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.
Phone: +61 (0)8 9273 7564
Email: Alison.Martyn@landgate.wa.gov.au
