State-of-the-industry report delivers critical insights into Australia and New Zealand’s strata sector

BY JEFFREY GIBBS

In Australia & New Zealand it appears that living arrangements for many are changing with at least one-outof-six Australians &One-out-of-Twenty Kiwi’s now residing within Strata titled apartment or townhouse dwellings according to an innovative new study carried out by UNSW’s City Future Research Centre which shows an expansion rate nearing on 7 percent growth over recent times.

If you are interested in gaining full insight into both Australia’s and New Zealand’s stratum industry along with updated information on the previous year’s report, then look no further than The Australasia Stratum Insight Reports from both years. This is an indispensable resource for decision-makers initiating changes in the framework of the strata industry.

The Australian Strata Insights report series brought together formerly separated strata data from different state and territorial bureaus with inconsistently recorded information in addition to a number of companies who work in this area.

Australian residents are known for their love of owning strata-titled properties with up to a quarter (26%) residing under this arrangement according to this recent report. The research showed that one out of every ten people lived within apartment buildings whilst an additional six per cent resided elsewhere within other strata titled housing options.

Within this report, you can fnd statistics on both quantity and value of strata properties in addition to a comprehensive list of professionals employed to serve them across national territories. Moreover, the demographic makeup of occupants in private apartments is made known to the public through strata titling which most such buildings have.

Quick report highlights:

• Over the past two years there has been a 7% growth in the number of strata-titled lots in Australia.

• There exists now more than 3 million strata and communitytitled properties which include units or townhouses in Australia.

• Strata-titled properties are valued at an estimated insured amount close to $1

• During the past two years there was a rise in strata lot numbers for each state/territory of Australia as well as New Zealand.

• Over the last couple of years there has been a development where more than 200000 new units were built that comprise mainly of lots and townhouses.

• A signifcant percentage (48%) of residents living in private apartments throughout Australia fall into the age bracket spanning from 20 to 39 years.

• Retroftting demand is emphasized by the fact that approximately one half of Australia’s strata buildings were erected before the year 2000.

• With a remarkable 9% growth rate within two years NSW has made its way to the top among all Australian states by surpassing one million strata lots.

• Over the last two years there has been an outstanding climb in lot purchases recorded in the ACT with a growth rate of 19 percent since 2020.

• The number of arrangements or schemes that divide up the land into segments for use is representative with New Zealand containing roughly in the middle with its count being someplace amid SA & WA

• The report has estimated that there are upwards of 10k individuals who work directly within the strata sector each year with a resulting annual economic impact exceeding $7bn.

Recent studies conducted by Professor Hazel Easthope’s research project team at UNSW found that strata-titled dwellings have undergone rapid development within the last ten years; a trend which has continued into more recent times for both Australia and New Zealand. Both population growth and governmental support for building upwards instead of outwards have contributed to an increase in vertical expansions within established metropolitan areas.

As per her comments, Strata developments have become a crucial aspect of residential landscapes in both Australia and its neighbour country

New Zealand since its inception in the 1960s.

As per Chris Dugganthe National President of SCA, this data indicates how vital strata-titled living is for Australia.

The popularity of strata-living is growing rapidly in both Australia and New Zealand People in 2023 prioritize accessibility to work and entertainment like never before - a challenge was successfully taken on by strata living.

For those who desire exceptional location and facilities in their homes or are looking to overcome high living expenses through renting or owning property in the current real estate market situation have found strata living ideal.

To allow for an enhanced standard of living for all hundreds of thousands of occupants currently residing within Australian Strata’s as well as those yet to come it is necessary to have improved architectural designs through proper regulation.

To tackle issues like ageing building stocks, a fall in construction speed, growing populations, and lack of housing supplies, both Governments and the Real estate sector must unite their efforts by adopting coordinated policy measures after considering these variables. The spokesperson confrmed they would utilize insights from this study.

Quick Crossword

ACROSS

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Sudoku

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WORD No. 151

Using the nine letters in the grid, how many words of four letters or more can you list? The centre letter must be included, and each letter may only be used once. No colloquial or foreign words. No capitalised nouns, apostrophes or plural words ending in “s”.

1 For which 1999 lm did R.E.M. write The Great Beyond?

2 And which US entertainer is the lm about?

3 True or false: bull sharks can tolerate both salt water and fresh water?

4 The Swiss food product Cenovis is similar to what Australian product?

5 What is the term for an infant cockroach?

6 What is the most abundant protein in the human body, constituting roughly 25 to 35 per cent?

7 Thessaloniki is the capital of which region of Greece?

8 Name the 2009 advice book for teens written by Kelly Osbourne (pictured).

9 What are the two primary ingredients of marzipan?

10 For which art movement is Émile Gallé known?

ACROSS

1 Rainproof cover (coll) (4)

5 Wound-mark (4)

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7 Fissure (4) DOWN

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4 Incompetent person (4)

Word Find

The

Each number corresponds to a letter. Can you crack the code?

G A

Cross Math

Hidden Word

Solve all the clues and an eight-letter word will be spelled out.

1 An animal astronaut in a space movie

2 Quasimodo is the –back of Notre Dame

3 Sister and brother, Bindi and Bob

4 She marries Prince Eric, and has a daughter named Melody

I E

A K E

5 A dwarf from Snow White and the Seven Dwarves who does not talk

6 The alligator in Penguins of Madagascar

7 E.T. stands for the what Terrestrial?

8 Elsa in Frozen is a Snow what?

HOW WELL DO YOU KNOW...

1. Which comedic actor directs Stevens in new horror film

E D R solution may be possible

E V Insert the missing letters to make 10 words –ve reading across the grid and ve reading down.

The Rental?

A. James Franco

B. Seth Rogen

C. Dave Franco

D. Jonah Hill

2. What country did his Eurovision Song Contest: TheStoryofFireSaga character, Alexander Lemtov, represent?

A. Iceland

B. Russia

C. Ukraine

D. Estonia

3. Which BeautyandtheBeast character did Stevens bring to life in the 2017 live-action adaptation?

A. Lumiere

B. Gaston

C. Cogsworth

D. Beast

4. Stevens stars as a psychic skeptic in BlitheSpirit, a film based on the comic play by which writer?

A. Oscar Wilde

B. J. M. Barrie

C. Noël Coward

D. George Bernard Shaw