MAR­KET SLOWS DOWN

Southern Gazette (South Perth) - - RESIDENTIAL -

THE WA prop­erty mar­ket has recorded its low­est ac­tiv­ity in four years, new fig­ures from the state’s land own­er­ship agency have shown.

Landgate’s June Business Ac­tiv­ity Pro­file showed there were 323,474 prop­erty-re­lated doc­u­ments lodged with the agency in the 201516 fi­nan­cial year, the low­est since 306,558 sub­mis­sions in 2011-12.

While the fi­nal quar­ter was the slow­est in four years, the June 2016 fig­ure was up 11.27 per cent for the month to 30,934.

Landgate chief ex­ec­u­tive Mike Brad­ford said June was typ­i­cally the agency’s busiest time be­cause banks and prop­erty buy­ers were keen to fi­nalise trans­ac­tions be­fore the end of the fi­nan­cial year.

“Trans­fer lodge­ments in­creased by 16.23 per cent in June 2016 com­pared to the pre­vi­ous month, while mort­gage lodge­ments rose by 13.89 per cent,” he said.

The num­ber of new lots fell 34.37, new strata lots were down 15.89 per cent and new sub­di­vi­sional lots dropped 49.84 per cent.

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