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Contact our friendly staff at the below convenient locations to start enjoying the rewards of strata investment now.

Newcastle
1/22 Portside Cres
Wickham NSW 2293
P: (02) 4041 5200
F: (02) 4962 3032
E: newcastle@cstm.com.au

Port Stephens
5/63 Donald Street,
Nelson Bay 2315
P: (02) 4041 5200
F: (02) 4981 0188
E: portstephens@cstm.com.au

Tuggerah
6/19 Reliance Dr
Tuggerah NSW 2259
P: (02) 4355 7100
F: (02) 4351 5505
E: tuggerah@cstm.com.au

Terrigal
Level 1, 72 The Esplanade,
Terrigal NSW 2260
P. (02) 4355 7100
F. (02) 4384 3575
E: terrigal@cstm.com.au

Noosa
Suite 4, 17 Thomas Street
Noosaville QLD 4566
PO Box 1547 Noosa Heads QLD 4567
T (07) 5473 3400 F (07) 5470 2752
E noosa@soundbcm.com.au
W Click here to go to our Noosa page

Newcastle 1/22 Portside Cres
Wickham NSW 2293

Port Stephens 5/63 Donald Street
Nelson Bay 2315

Central Coast 6/19 Reliance Dr
Tuggerah NSW 2259

Level 1, 72 The Esplanade
Terrigal NSW 2260

Suite 4, 17 Thomas Street
Noosaville QLD 4566

27 Nov 2014 - Property Council calls for relaxed strata regulations

The Property Council of Australia has made a call for strata rules and regulations to be relaxed in order to prevent investors from being held back.

Chief executive of the Property Council, Ken Morrison has said that strata titles will increase as cities become more populated, and the system represents an “important form of ownership” for both residential and commercial property.

However Mr Morrison also said the current system comes with major disadvantages.

“It requires 100 per cent of owners to agree to wind up the scheme at the end of the building’s physical or economic life,” he said.

“Nothing lasts forever. As our cities evolve and grow, strata-titled buildings will need to be refurbished, renewed or demolished. However getting unanimous approval from even a dozen owners is a big challenge, but a few hundred is well-nigh impossible.”

He said the current system is “a strata title straightjacket which risks locking up our cities”.

The Property Council is asking for a decreased threshold and clearer renewal processes to help owners through a scheme termination.

Mr Morrison did admit that some states and territories are already heading in the right direction.

“Last week the WA government proposed a majority threshold for schemes of 10 or more lots which are more than 15 years old,” he said.

“This month the NT parliament will consider legislation to do the same."

Mr Morrison said these proposals could be learnt from by other states such as NSW, “where reform momentum seems to have stalled”.

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