Solid start to the Financial Year
July property activity shows solid start to the financial year
The July 2012 Business Activity Profile, released today, shows a marked improvement in Western Australia’s property activity according to Landgate, the State's official land information authority.
Landgate Chief Executive Mike Bradford said July’s figures were 20% higher than the figures recorded last July.
“This is a difference of an extra 4,590 documents being lodged in July this year,” Mike said.
“Of those documents, 6,606 were transfers of land; a 39% increase on the number of transfers lodged in July last year.”
The majority of these transfers continued at the lower end of the property market, with the $200,001 – $500,000 price band claiming almost half of the activity.
Mr Bradford said July’s figures were 2% higher than the five year average for the month.
“This is the first time we’ve see a July with higher levels of property activity than the preceding five year average since 2007.
“While the July figures show a similar level of activity to the previous month of June, when comparing the activity to a year ago, we are seeing a marked improvement.”
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 July 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.