Fast strata facts
With Australia’s population increasing and the cities beckoning when it comes to employment, the good old quarter-acre block, three-bedroom house and Aussie backyard are well and truly a thing of the past. Instead, more and more of the population is living in strata title communities where resources, assets and facilities are shared.
As the boom in units, townhouse and high-rises shows no signs of abating here are eight interesting facts about strata title living.
Fastest growing form of property
Strata living is the fastest growing form of property ownership in Australia. According to the Governing the Compact City report by the University of NSW: “over half the new dwellings to be built in our metropolitan areas over the next decades will be strata titled”.
Three million in strata living
An estimated three million people live in strata titled homes in Australia.
NSW strata capital
1.2 million NSW residents live in a strata residence. In the Sydney metropolitan area alone almost a quarter of the population resides in strata title homes.
According to the Inner Sydney Voice, 75% of the City of Sydney residents, or just under 150,000, people live in strata regulated dwellings. This makes the City of Sydney one of the most densely populated local government areas in Australia.
As the population of the city continues to increase, the number of people living in high-density developments is also likely to rise. And, it is expected that by 2030, the City will have an extra 61,000 strata titled dwellings. Indeed, by 2030, it is expected that almost half the state’s population will live in strata communities, the Inner Sydney Voice notes.
The most common disputes within a strata community, according to 510 Governing the Compact City study respondents, are:
- Parking – 61%
- Breaking of by-laws – 59%
- Noise – 50%
- Rubbish – 41%
- Repairs and maintenance of common property – 39%
- Renovations within an individual owner’s lot – 38%
- Use of common property – 36%
- Pets – 35%
- Financial costs for owner’s corporation and owners – 33%
- Actions of the strata manager – 28%
- Access to common property – 24%
- Laundry displayed on balconies – 24%
- Smells (including smoking) – 22%
- Setting of levies – 20%
- Short-term letting – 11%
- Actions of a building manager – 10%
- Other disputes over common property – 11%
- Other – 26%
Most disputes, (61% of survey respondents noted) are resolved before formal action is required.
Communication the key
The study found: “The role of interpersonal relationships and skills amongst residents, owners and committee members are critical factors in determining the success or otherwise of strata living and management”…”Good relationships with neighbours can have significant positive benefits, not only for the individuals involved, but also for the smooth operation of the scheme. Positive relationships can increase the likelihood of good communication, tolerance and collective problem solving”.
StrataSpot’s aim is to foster a sense of community in strata environments. We do this through our cloud based software that allows residents to interact, post social events, enjoy shared spaces and facilitate information.
To learn more about our services for strata communities, see here.