Property activity for the 2011-2012 financial year is off to a slow start according to Landgate, the State's land information authority.
Landgate Chief Executive, Mike Bradford, said the Business Activity figures released today show the lowest level of property activity for the month of July since the introduction of the GST led to a record low 11 years ago.
"If we remove 2000-2001, the anomalous year that the GST was introduced, we are actually seeing property activity at 1990 levels," said Mr Bradford.
The Agency's document lodgement figures for July show a 25 per cent decrease in documents lodged compared to June and are down 10 per cent from July 2010.
Overall, property activity for July 2011 is down 30 per cent compared to the boom years of 2005-2006.
Landgate's Business Activity Profile covers all property-related documents lodged within Landgate and is a key indicator of the state of the property market in Western Australia.
The July Business Activity Profile is available on Landgate's website. It provides the daily average of all documents lodged, with sections detailing land 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.
Phone: +61 (0)8 9273 7066
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