August property figures strong
August property figures reflect strong start to financial year
The August 2012 Business Activity Profile, released today, shows a steadily improving Western Australian property market, according to Landgate, the State's official land information authority.
Landgate Chief Executive Mike Bradford said last month’s figures were the strongest for an August since 2009.
“This news comes on the back of uncharacteristically strong figures for July 2012, indicating an encouraging start to the new financial year”, said Mr Bradford.
Mr Bradford said the August figures were 3.5 per cent higher than those in July, equating to 966 more documents being lodged.
“Of those documents, the number of transfers of land lodged went up by 6.1 per cent, which is a good steady increase of 401 transfers”, he said.
“These transfers were also up 18.9 per cent against August last year, a marked increase of 1,113 transfers.”
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 August 2012 Business Activity Profile 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.