The annual production of new strata title properties in WA has surpassed the creation of traditional ‘green-title’ properties for the first time, and this is influencing the design of new buildings and places.
A study by KPA Architects of new property titles issued by WA’s land agency Landgate in the last 20 years, found the proportion of new strata titled lots grew from a low point of 25% in 2002/03 to a peak of 51% in 2016/17. In the current financial year, the proportion of new strata titled properties is on track to be 50% of total new lots.
Contributing to strata properties being more prominent in recent years, include:
- The share of new green-titles, many in new land estates, declining from 70% of new lot production to 50% and the pipeline of completed new apartment developments sold off-the-plan several years ago;
- The success of new planning and infrastructure policies that promote higher density housing near suburban centres and Metronet stations; and
- More housing diversity to cater for key market sectors, including affordable housing, seniors, people with disabilities and students.
Great examples of strata innovating the built environment are evident in modern retirement communities with more independent living units and the emergence of ‘built to rent’ developments like the growing number of student housing precincts in the Perth CBD.