In 10 days Australian strata title turns 50. So, happy birthday strata title!!!
It’s an important milestone for Australians (and other people all around the world) who own, live and work in strata apartments.
When the Conveyancing (Strata Titles) Act 1961 started on 1 July 1961 in New South Wales I doubt anyone expected what would happen over the next 50 years.
The NSW laws were copied all around Australian within 10 years. They’ve also been exported with one or other version being adopted and/or copied in Canada, New Zealand, Singapore, South Africa, Indonesia, Malaysia, Fiji, Philippines, Cayman Islands, India, Hong Kong, Dubai and the United Kingdom.
Today, multi unit housing currently represents approximately 25% of total Australian housing (numbering approximately 2.5 million dwellings). And, in 2010, 51% of new housing in NSW was multi unit housing. So at least in some areas there’s now more new high and medium density housing being built than free standing homes.
Most importantly strata title has become an accepted and normal form of property ownership in Australia and is now seen as the future of housing for most people. Today we have and will see generations of people who will only have lived in strata title apartments.
I’ve enjoyed being part of the last 25 of those 50 years and look forward to the next 10, 20, 30 40 or 50 years too.
Francesco …
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