Landgate records the highest number of lot creations in five years

The October 2014 Business Activity Profile (BAP), released today by Landgate, reports the
total number of new lots created last month is the highest it has been in the past five years.
There were almost 2,700 lots – incorporating freehold and strata – created in October.

The total number of documents lodged in October 2014 (31,816) increased by 11.40 per
cent when compared to the previous month (28,560) and has slightly decreased by 2.42 per
cent when compared to this time last year (32,606). 

Landgate Chief Executive Mike Bradford said the increase in the number of new lots, in
particular strata lots, reflected the increasing demand for affordable and sustainable living.
"It is likely the number will continue to increase in light of the fact it is expected WA will be
home to more than 3.5 million people by 2031," Mr Bradford said.

"What is significant is that strata lots created increased by 42.15 per cent in October when
compared to the previous month but has remained steady when compared to October 2013.

"This activity in strata titles underlines the popularity of strata developments and adds
weight to the importance of the Strata Title Act Reform being undertaken by Landgate," Mr
Bradford said. 

Landgate has developed an online public consultation tool which allows people to provide
feedback on the proposed reforms. 

Mr Bradford said he encouraged interested owners, developers and tenants of strata
schemes to access the consultation tool and have their say. 

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 October 2014 BAP 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.

Landgate is Western Australia's primary source of land information and geographic data, providing the accuracy Government, business and individuals rely on.