Property activity forecasts look promising

Landgate's November 2013 Business Activity Profile (BAP), released today, reveals a steady level of activity.

Landgate Chief Executive Mike Bradford said when comparing the time period from January to November in the 2012 and 2013 calendar years, property activity was up by 32,867 documents (11.1 per cent).

"With one month before the end of the year, the number of documents lodged in 2013 to date has already surpassed the total recorded for 2012 by 3,603 documents. At this rate, the forecasts look promising for 2013/14," said Mr Bradford.

"Throughout 2013 we have seen steady, consistent increases in document lodgements, reflecting reports of a growing confidence in the market as highlighted by REIWA's announcement this week of a record high in Perth's median house price."

The November 2013 figures were the highest for the month in four years and six per cent higher than the three year average for the month. 

Transfers, mortgages, searches and new lots created all increased in November 2013 compared to the same month last year.

The November 2013 BAP is available on Landgate's website. It provides the daily average of all documents lodged with sections detailing 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.