Western Australia’s property market has continued its downward trend in the 2015/16 financial year with Landgate’s Business Activity Profile (BAP) recording the lowest figures for a March since 1997.
March 2016 lodgements (25,930) increased slightly from February 2016 (24,723) to record the lowest total lodgements for a March since 1997 (24,358).
Landgate Chief Executive Mike Bradford said that it was the lowest total document lodgements for a third quarter since 2011.
“The third quarter in 2015/16 saw 72,148 documents registered, an 11 per cent decrease on third quarter lodgements in 2014/15,” Mr Bradford said.
“Although we saw a slight increase in 2016 from February to March, total lodgements were down 12 per cent from March 2015.”
“Nearly all document types were down compared to March 2015, the exceptions being the number of strata lots created which was up 47 per cent at 1,157, and Strata Plan and Survey Strata Plan Lodgements, up three per cent to 219.”
Among the document types which were down were transfers (5,681). Although recording a 16 per cent increase from February (5,064), they were down 17 per cent from March 2015 (7,053).
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 March 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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Landgate is Western Australia's primary source of land information and geographic data, providing the accuracy government, business and individuals rely on.
Contact: Karen McPherson, Media and Ministerial Adviser
Phone: +61 (0)8 9273 7514 +61 (0)407 420 255
Email: karen.mcpherson@landgate.wa.gov.au
