The 2010-2011 financial year has delivered the lowest levels of property activity in a decade.
Landgate Chief Executive Mike Bradford said the June activity levels were the lowest for fourteen years and 37% down on the boom years. This comes on the back of the May figures which were the worst for sixteen years.
Overall the figures for 2010–2011 are 35% down on the peak of 2005-2006.
“In total the 2010-2011 financial year has had the lowest level of activity since 2000-2001. That was the year that saw the introduction of the GST and a slowdown in property market activity due to a decline in residential construction,” Mr Bradford said.
Although there was a slight increase in activity during June this was expected and followed a typical trend for the end of the financial year.
The Agency’s Business Activity figures released today show an 11% increase in the documents lodged in June compared to lodgement figures for May.
The Business Activity Profile covers all property related documents lodged with Landgate and is a key indicator to the state of the property market in Western Australia.
Mr Bradford said that the current low levels of activity look to continue for the time being with none of Landgate’s key business activity indicators showing a notable increase.
Landgate Chief Executive Mike Bradford said the June activity levels were the lowest for fourteen years and 37% down on the boom years. This comes on the back of the May figures which were the worst for sixteen years.
Overall the figures for 2010–2011 are 35% down on the peak of 2005-2006.
“In total the 2010-2011 financial year has had the lowest level of activity since 2000-2001. That was the year that saw the introduction of the GST and a slowdown in property market activity due to a decline in residential construction,” Mr Bradford said.
Although there was a slight increase in activity during June this was expected and followed a typical trend for the end of the financial year.
The Agency’s Business Activity figures released today show an 11% increase in the documents lodged in June compared to lodgement figures for May.
The Business Activity Profile covers all property related documents lodged with Landgate and is a key indicator to the state of the property market in Western Australia.
Mr Bradford said that the current low levels of activity look to continue for the time being with none of Landgate’s key business activity indicators showing a notable increase.
No comments:
Post a Comment