The strength of Western Australia’s property market has again been proven, with the Department of Land Information (DLI) recording its highest ever number of document lodgements for the 2004-2005 financial year.
A total of 406,225 documents relating to the buying and selling of property passed through the department in the year, marking a 1.5 per cent increase on the previous record of 400,158 which was set in 2003-2004.
Land Information Minister John Bowler said the figures were indicative of the healthy condition of the State’s economy and investors’ confidence in the property market.
“A staggering $45.04billion of mortgages were secured by the registration system during the past financial year, representing a $5.1billion increase on the previous year,” Mr Bowler said.
“The number of land transfers was also up on last year by three per cent, with 107,465 being recorded, totalling $30.1billion.
The total number of lots created in 2004-2005 - 30,648 is the second highest on record.
The month of June also produced record figures (39,903), with total document lodgements and the number of land transfer documents exceeding previous monthly records.
The number of mortgages lodged during June reached 11,772, (securing $4.1billion) an increase of nearly 10 per cent from June 2004 (10,720).
Mr Bowler said the Gallop Government was helping to create conditions required for investment and growth, and the figures indicated Western Australians were sharing in the benefits.
Minister's office: 9213 6500