With an insured value of almost $1 trillion, covering 2.6 million lots and directly employing 9000 people nationwide, the strata sector is an important part of the Australian economy (source; Strata Community Association 2018).
The Australian National Strata Data Report, prepared by the University of NSW City Futures Research Centre and funded by the Strata Community Association (SCA), has found some fascinating facts and figures about strata.
Key findings include that approximately nine per cent of the Australian population (2.2 million people) live in apartments, with half these residents aged 20-39.
Those aged 40-59 account for 20 percent of residents.
35% of apartments have one occupant, while couples without children account for a further 24%, followed by couples with children (13%), group households (9%) and single parents (6%).
Three of the most common professional services provided to strata properties are from lawyers, valuers and insurers, while the most common callout jobs involve gardening, plumbing and electrical work.
Despite the size of the sector however, the report’s co-author Hazel Easthope says researchers found there was a low number of strata managers.
The research combined data from the Australian Bureau of Statistics’ census and various state and territory land title agencies.