Image credit: ©stock.adobe.com/au/Uladzimir
For the first time in its 160-year history, Victoria’s Land Registry services has processed more than one million transactions in a single financial year.
The agency’s latest Business Activity Report shows that for the 2021–22 financial year, total transactions lodged increased by 14.02% to 1,022,585.
Other statistics from the same year include:
- transactions lodged digitally increased to 993,196, or 97% of total lodgments
- title search volume increased by 6.41%, to 2,977,311
- lodgment revenue increased by 25%, to $492 million
- 7,536 plans of subdivision were lodged, a decrease of 8.3%
- new parcels created from plans of subdivision decreased by 18.2%, to 60,803
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