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Property activity and sales reveal confidence

Landgate's March 2013 Business Activity Profile, released today, reveals improving confidence in property activity in Western Australia.

Landgate Chief Executive Mike Bradford said the document lodgement figures for the financial year to date were 9.2 per cent higher than for the same period of time last year, which equates to an additional 20,597 documents lodged.

"Figures for this financial year's third quarter are also up by 2.9 per cent compared to the third quarter in 2011/12," said Mr Bradford.

Transfers of land increased by 15.6 per cent in March compared to the same month last year, and up 11.3 per cent compared to February 2013.

"There was also a noticeable shift in the price bands with 18.6 per cent of transfers in March occurring in the $500,001 – $700,000 range," said Mr Bradford.

"This equates to 339 more transfers in this price brand than in February, which reflects recent comments in the media by REIWA and other property industry bodies, that the median house price has climbed to $510,000," he said.

"These sales figures are further supported by Landgate's recent house, unit and land sales data, which revealed the first signs of a rebound in confidence after two years of subdued activity and a general easing of prices."

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 March 2013 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.

The March 2013 house, unit and land sales data is available for free on Landgate's website here under 'Suburb Sales Stats'.

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.

Media Contact: Phillip Rowell, Acting Manager Communications and Media Advisor
Phone: +61 (0)8 9273 7564