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Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011
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Presentation for NAMA Indaba, Johannesburg, South Africa - May 2011

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A presentation about the first 50 years of strata title laws in Australia

A presentation about the first 50 years of strata title laws in Australia

Published in: Travel, Business
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  • 1. 50 Years of Strata Title in Australia
    NAMASA INDABA
    6 May 2011
    Johannesburg, South Africa
  • 2. Introduction
    Australian housing overviewed
    Strata in Australia begins
    50 years of expansion & change
    Some highlights along the way
    Existing & emerging trends
    Challenges for the future
    Questions
  • 3. Translations
    Body Corporate = Owners Corporation
    Common Property = Common Property
    Developer = Original Owner
    Rules = By Laws
    Owner & Unit = Owner & Lot
    Sectional Title = Strata Title
    Sectional Plan = Strata Plan
    Special Resolution = Special Resolution
    Unanimous Resolution = Unanimous Resolution
  • 4. Strata Housing in Australia
    Mostly a country of urban sprawl but it’s changing
    7.6 million square kilometres, 22.5 million people, 8 major cities (the largest with 4 million people)
    A strong culture of property ownership, stable banking & long term low interest mortgage sector with taxation incentives for residential rental investment property
    An enthusiastic property development sector operating in boom-bust cycles
    Multi unit housing represents 25% of total Australian housing
    51% of new housing in NSW in 2010 was multi unit housing
  • 5. Strata Begins
    Apartments appear in the early 20th century
    Early ownership structures via company title
    The post war period see many more low rise apartments mostly rented to younger couples saving for a home
    1950s income & wealth levels of baby boomers lead to pressure to own apartments
    Innovators looked at apartment titling options and Lend Lease (via Dick Dusseldorp) lobbies for & initiates strata title laws
    The Conveyancing (Strata Titles) Act 1961 starts on 1 July 1961
  • 6. The 1960’s
    First strata laws in NSW begin
    Only 29 sections and two schedules (one schedule with only 10 lines
    Laws copied in Tasmania, Queensland, Western Australia, Victoria & South Australia
    First strata building remains in existence
    Pioneering times for everyone
    Surveyors dominated strata title matters
    Approximately 8,000 strata buildings created
  • 7. The 1970’s
    Strata laws introduced in Australian Capital Territory & Northern Territory
    Major reform of NSW laws in 1974
    New laws have 200 sections, 4 schedules & separate regulations
    Australian laws copied in Canada, New Zealand, Singapore, South Africa, Indonesia, Malaysia, Fiji, Philippines, Cayman Islands, India & Hong Kong
    Negative gearing promotes strata rental investment
    Development of a specialised strata management industry
    Approximately 18,000 strata buildings created
  • 8. The 1980’s
    Major law reform in NSW with community title laws allowing estate subdivisions
    Steady growth in strata numbers, popularity & values
    Introduction of large scale foreign investment in strata property ownership
    Professional strata associations/groups emerge
    Regulation of strata managers in 2 states
    Holiday apartment syndrome starts in Queensland
    The first 500 plus lot strata schemes created
    Approximately 30,000 strata buildings created
  • 9. The 1990’s
    Major law reform in NSW with 2 part laws splitting development & management
    In NSW over 400 sections, 13 schedules & 2 sets of regulations
    Major law reform in Queensland in 1997 creating core Act & Regulation Modules for different building types
    In Queensland over 250 sections & 5 modules with over 800 clauses
    Australian Property boom means massive growth in strata numbers
    Long term (25 year) on site management contract emerge
    Separation of administrative work from building management/maintenance
    Approximately 38,000 strata buildings created
  • 10. The Naughties
    Australian laws copied in United Kingdom & United Arab Emirates
    Proliferation of law reforms in every Australian state
    Over 33 separate strata Acts, with 1600 sections, 3000 regulations & 70 schedules
    Proliferation of legal decisions in Courts around Australia
    GFC puts pressure on property values & strata cashflows
    Larger & more complex strata developments emerge but smaller sized housing units become standard in strata
    Strata manager business polarise with large oligopoly style operators & micro businesses
    Approximately 42,000 strata buildings created
  • 11. Highlights over 50 Years
    Frequent law review & reform
    Promotion of flexible development options
    Specialist dispute resolution
    Regular superior Court consideration & decisions
    Wide commercial acceptance of strata title
    Public adoption of strata living within 50 years
    Low level of manager regulation
  • 12. Trends
    Decentralised control away from committees
    Increasing owner empowerment
    Hyper-regulation of strata scheme operations
    Degeneration of management into over-formality
    Owner apathy & ignorance
    Haphazard application of other laws
  • 13. Future Challenges
    Operational complexity
    Effective strata scheme support services
    Rapidly rising operating costs
    Appropriate owner engagement
    Tennant status vs. responsibilities
  • 14. Some Thoughts
    Demographic, economic & urban planning trends require more high density strata housing
    But, owner & tenant experiences of strata owning & living are poor
    Processes & outcomes need significant improvement
    Otherwise strata will be a necessary housing evil and not a desirable option
    People involved in strata will continue to struggle to be properly recognised & rewarded
  • 15. Contacting Me
    Contact me anytime about Australian strata matters …
    francesco@strataexperts.com.au
    And, follow my blog on worldwide strata matters …
    www.francescoandreone.blogspot.com

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