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The first comprehensive national report of the strata and community title sector reveals there are about 2.6 million strata title lots in Australia with an insured value of $995 billion.
Over 400 strata industry members converged in Hobart for the annual industry conference “Leading the Way”. It featured international learnings, divergent strata CEO musings and a unique fascination with, wait for it….crap!
Future of the strata industry and sustainability themes dominate Griffith University strata conference
Apartment owners and residents are increasingly looking at new ways to foster a greater sense of community in their blocks and get things done more efficiently.
According to a University of NSW case study, energy efficiency in strata has some unexpected outcomes over the medium term. Among these are improved security, garden re-invigoration, a common area make-over and record property valuations.
The movie “High-Rise”, set in an apartment block that suffers from regular power outages, is getting 63% on Rotten Tomatoes. A real 72hr outage in an Australian strata building had an even bigger effect, and provides an important lesson in future-proofing properties.
Five apartment complexes in the West Sydney suburb of Rhodes have been inundated with trespassing complaints. The developments near Peg Paterson Park have seen crowds of over 1,000 people at night with some people jumping fences, leaving rubbish behind, causing property damage, and disturbing the peace while in search of Pokemon on their smart phones.
Most strata management firms are operating on fine margins from base fees and are unable to capture the scale benefits enjoyed by larger Australian firms and U.S. based “mega-lot” managers.
Solar and energy storage continue to feature heavily in the media, getting wide public exposure. This presents an opportunity for strata mangers to take initiative, or to risk falling behind and losing clients.
Electric Vehicles (EV) and hybrid cars are set to soar in the coming years according to a recent research report from ClimateWorks Australia. Statistically the average strata building already has 2 vehicles requiring recharge in their carparks and could have as many as 20 by the year 2025.
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