Strata Insights

We love working in Strata and during June we eagerly tuned in to the webinar run by Strata Community Association recently which highlighted key areas of the 2022 Strata insights report.

If you would like to see the report for yourself, you can do so here:

https://cityfutures.ada.unsw.edu.au/2022-australasian-strata-insights/

Just some of the key national insights:

• More than 1 in 10 Australians live in Strata

• There are over 350,000 schemes/plans

• There are over 3,000,000 lots (units) in Australia

For South Australia, our Strata sector is as expected a bit smaller than NSW, Victoria, Queensland or Western Australia, but

• Nearly 1 in 10 South Australians live in Strata

• There are 23,274 schemes/plans

• There are 125,564 units/lots

• 48% of schemes have been registered since 2000

As someone who has worked in Strata and Community management for over 20 years I have experienced a large amount of growth in the strata sector and welcome this, particularly given how long suburban Adelaide has become with greenfield development sites stretching the footprint of our capital further North and South.

It is still staggering though to see that almost ½ of the Corporations in existence have been built this century and one of the areas that made strata an attractive career option for me was the fast growth.

Between 2020 and 2022, South Australia saw 759 new schemes or 3% growth, while the number of lots increased from 119,903 to 125,564 which represents growth of 5%.

All indications are that medium density living in the form of Community Titles will continue to experience high growth in the years ahead.

Thank you to Strata Community Association and UNSW Sydney for their insight into the strata sector which has a profound impact on the lives of many Australians. We appreciate the impact that reports such as this can have in advancing advocacy for the benefit of Strata Community managers and our clients.

All data here taken from the Strata insights report