western australia’s property activity slump

http://www.landgate.wa.gov.au/corporate.nsf/web/Western+Australia’s+property+activity+slump+continues

Western Australia’s property activity slump continues - 14/11/2011

Low levels of property activity have continued in October, according to Landgate, Western Australia’s official land information authority.

Landgate Chief Executive, Mike Bradford, said the October 2011 Business Activity Profile released today shows property activity in Western Australia is still at an 11-year low.

“However, if we remove the anomalous year that the GST was introduced, 2000-2001, we are actually seeing property activity at 1990 levels.

“Our document lodgement figures for October are down 7% on September’s figures and 7% down compared to the figures for October last year,” Mr Bradford said.

Property activity figures for 2011-2012 to date are still down 30% on the boom years of 2005-2006, as they were in September.

Landgate’s Business Activity Profile covers all property-related documents lodged within Landgate and is a key indicator of the condition of the property market in Western Australia.