Western Australia’s property market continued its slow start to the second half of the financial year with Landgate’s Business Activity Profile (BAP) recording the lowest number of document lodgements for the month of February since 2012.
Landgate Chief Executive Mike Bradford said that despite the continued lows, February’s figures were 15 per cent higher than January 2016.
“Given January’s figures were down compared to previous years, this was the highest monthly increase from a January to a February since 2013,” Mr Bradford said.
“When compared to January 2016, February’s lodgements were higher across all document types except strata lots.
“Even so, the number of strata lots created last month was 16 per cent higher than the February three year average.”
Among the document types with increases were searches (130,809), which recorded a 14 per cent increase from January (115,180), although this figure was 13 per cent lower than February 2015 (150,146).
Landgate's Business Activity Profile covers all property related documents lodged within Landgate and is a barometer of the state of the property market in Western Australia.
The February 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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