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Land transaction activity above three-year average

Landgate's March 2015 Business Activity Profile (BAP), released today, reports lodgements for all land transaction documents for the month continue to be above the three-year average.

Total document lodgements for March 2015 were 29,617, compared with the three-year average from 2011/12 to 2013/14 recorded at 27,597; a 12.99 per cent increase when compared to February 2015 and an increase of 2.28 per cent when compared to March 2014.

There is continued strong activity in new lots created. Current financial year-to-date figures report 24,662 new lots were created compared to the same period in 2013/14 of 20,742 – representing an 18.9 per cent increase.

Landgate Chief Executive Mike Bradford said, "On average, document lodgements increase from March to the end of the financial year as this is often one of the busiest periods in the property sector.

"We are expecting continued increases in the issuing of new titles up to 30 June 2015 as developers seek to finalise the sale process of new lots created before the end of the financial year."

Landgate's BAP covers all property-related documents lodged with Landgate and is a barometer of the property market in Western Australia.

The March 2015 BAP 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.

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.

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