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End of financial year property activity signals stability

The 2011/12 end of financial year figures reflect increased stability in the State's property activity according to Landgate, the Western Australian Land Information Authority.

Landgate Chief Executive Mike Bradford said while the total number of document lodgements in 2011/12 was down by 0.2 per cent compared to 2010/11, this year's figures were encouraging.

"There was a 1.5 per cent increase in property activity for the final quarter of 2011/12 compared to the same fourth quarter figures in 2010/11," said Mr Bradford.

"We saw an increase of 3.5 per cent in property activity in the six month period from January to June 2012 compared to the previous six months from July to December 2011."

There was also increase of 4.1 per cent in property activity from January to June 2012 compared to the same period last year.

The June 2012 Business Activity Profile, released today, covers all property related documents lodged within Landgate and is a barometer of the state of the property market in Western Australia.

The 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.

Notes to editors

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

Contact: Phillip Rowell, Media Advisor
Phone: +61 (0)8 9273 7564 or +61 (0)407 420 255