Land sales reach yearly high: UDIA

A recent survey of land sales has recorded the most lots sold in one week since May 2008.

The Urban Development Institute of Australia's Land Snapshot revealed 246 lots had been sold for the week ending 7 August 2009.

UDIA chief executive Debra Goostrey said any result over 200 sales was "outstanding."

The UDIA announcement is pasted below:

MOST LAND SALES IN ONE WEEK: UDIA

The property market is hot, with a recent survey of lot sales recording the most lots sold in one week
since May 2008.
"Our Land Snapshot recorded 246 lots sold for the week ending 7 August 2009," Urban Development
Institute of Australia (UDIA) CEO Debra Goostrey said. "This is the most sales recorded in one week
since 2 May 2008."
"We survey 10 of our developers each week in order to keep track of market sentiment," Ms Goostrey
said. "Sales have been steady over the last few months, with between 100 to 150 sales per week."
"246 sales in one week is just outstanding," Ms Goostrey said. "Even in the hottest market, reaching
over 200 sales is significant."
"The first home owners grant boost has been very effective in encouraging first home buyers to enter the
market," Ms Goostrey said. "These sales numbers are a positive sign that the property market in WA is
really picking up."