Strata The Solution
There are almost 1.3 million sites throughout Australia that could be used for new strata developments.
Analysis by CoreLogic and Archistar, assessed the development potential of capital city land that doesn’t currently have a strata development and where local regulations allow for higher-density dwellings.
It says there is room for potentially three million additional units, almost 500,000 of which could be built in areas with “low complexity” – meaning there are not significant issues with the sites, which may slow development.
The research was looking to identify sites that could accommodate smaller projects – on average 2.5 units per site.
It says Melbourne has the most potential sites for this type of development and could potentially deliver 1.2million new strata units, followed by Sydney (934,000 units), Brisbane and Adelaide (400,000 each), Perth (63,000), ACT (59,000), Hobart (58,000) and Darwin (4000)
More than half of the sites identified are within 2km of an existing train station.
CoreLogic research director, Tim Lawless, says the analysis identifies opportunities for low-rise strata units that would typically take the form of townhouses, duplexes or triplexes.
“This style of infill development is often more sympathetic to the local character and tends to encounter less resistance from local residents who are often wary of higher densities,” he says.