Activity in the Western Australian property market remains at historic lows despite a slight upswing in March, according to the State's official land information authority.
Landgate Chief Executive, Mike Bradford, said the March 2011 Business Activity figures released today show a marginal increase in volumes over the historic lows recorded in January and February of this year.
Business Activity Profile covers all property related documents lodged with Landgate and is a key indicator to the state of the property market in Western Australia.
Mr Bradford said while March showed an improvement over the traditionally slower months at the start of the year, it was still the lowest March figure in 14 years. "This was on the back of record lows in January and February which saw the lowest levels of activity for nearly two decades".
Mr Bradford said the combined result shows document lodgements for the March quarter of 2011 are the lowest for 19 years, and the total for the full first three quarters of the current financial year are down one third on the boom years.
Landgate's March Business Activity Profile is available on the Agency's website and 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 7066
Email: Rick.Powell@landgate.wa.gov.au
