With 5 million Australians living in strata complexes, the Strata Community Association has noted that a significant segment of the population is investing in improving the area and advises political parties to take note.
“The total value of strata housing is $1.3 trillion and the industry contributes $6.7 billion a year to the economy,” SCA noted.
Without investment and innovation in the sector, he warned, the goals each major party is aiming for in this election are unachievable.
According to SCA National President Chris Duggan, the top body’s three demands of the next elected government are:
Establish a National Strata Sustainability Fund
Environmental concerns naturally become a higher priority when Australians are looking for a home. Strata buildings need support to evolve over time, SCA explained.
Mr. Duggan explained that a national fund for strata sustainability is needed to “energize sustainability upgrades in strata buildings such as electric vehicle charging stations, improved waste systems, buildings more energy efficient and better use of water”.
The fund would provide low-interest or interest-free financing to landlord corporations and corporations, funding for education initiatives, and incentives for strata communities to become more involved in existing sustainability programs and grants such as NABERS.
Eliminate the high prevalence of construction defects in strata complexes
With an in-depth understanding of the myriad of factors that have contributed to a high rate of construction defects in new construction, the organization believes the problem cannot be solved without “leadership and cooperation among governments to achieve this, not just in one state or territory, but across Australia”.
SCA calls for implementation of 2019 Guidance Model Trust Building Report (BCR), which is estimated at saves consumers approximately $1.4 billion annually and provides industry with time savings worth approximately $375 million annually.
The body is also calling on parties to support the introduction of customer-facing rating tools to give consumers more transparency and extend building warranty schemes to include buildings over three stories in all jurisdictions.
Make insurance more affordable and accessible for co-owners
Finally, the SCA called on governments at all levels to take action to reduce “unnecessary fees, charges and levies” and to direct funding towards efforts such as mitigation and weather protection to reduce premiums and increase coverage in the future.
“We hope that all parties vying for this election recognize the value of these non-partisan priorities and commit to harnessing the multiplier effect of strata in the future,” Duggan said.