Downturn in property market continues

The number of land documents lodged in Western Australia continued to decline in September, with Landgate’s Business Activity Profile (BAP) recording a 4 per cent decrease on figures from August.

These monthly document lodgements have fallen each month since June 2015.

Landgate Chief Executive Mike Bradford said of particular note was the decrease in the number of subdivisional lots that were created.

“Compared to the previous month of August, there was a 23 per cent reduction in the creation of these lots,” Mr Bradford said.

“There was also an 18 per cent decrease in subdivisional lots created between the last quarter of 2014/15 and the first quarter of 2015/16, which represents the largest decline between quarters for subdivisional lots in at least six years.

“However despite slowing activity, there were still a large number of subdivisional lots created – 4,958 in the first quarter of this financial year.”

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 September BAP 2015 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.

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