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Property market declines in November

The number of land documents lodged in Western Australia continued to decline in November, with Landgate’s Business Activity Profile (BAP) recording the lowest levels of monthly property activity since January 2015.

The drop in activity was reflected across every type of land transaction but Landgate Chief Executive Mike Bradford said it was typical for November figures to be low.

“Overall activity has declined between October and November for the past four years and it traditionally picks back up in December,” he said.

“This year we saw a marginal drop of 4 per cent between the months and we also saw some positive signs in the market for strata.

“Strata lodgements for November increased by 13 per cent compared to the same time last year.

“The 1,039 new strata lots created for the month also represents a significantly higher figure than the month’s three year average of 857.”

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 November BAP 2015 is available on Landgate's website. It provides the monthly total of all documents lodged with sections detailing transfers, mortgages, caveats, searches and other categories of property related documents.

Contact: Karen McPherson, Media and Ministerial Adviser

Phone: +61 (0)8 9273 7514