Strata Insights 2024

The Australasian Strata Insights 2024 Report published by UNSW Sydney’s City Futures Research Centre in partnership with Strata Community Association (SCA), reveals significant growth in Australia’s strata sector, with approximately 15% of Australians—about 4.2 million people—now living in strata-titled properties.

As urbanisation continues and housing affordability challenges persist, the strata sector will likely maintain its growth trajectory, particularly in metropolitan areas.

National Growth Trends

Australia has seen an expansion in the strata sector over the past two years, adding more than 240,000 new strata lots. The current figures stand at 368,234 strata schemes containing over 3.19 million individual lots nationwide.

Half of these schemes have been registered since 2000, demonstrating the rapid adoption of medium and high-density living in recent decades.

The collective value of strata properties has surged past $1.4 trillion, up from $1.3 trillion in 2022.

Annual levies collected by schemes have also increased from $8.5 billion to $10 billion, funding essential services and new infrastructure like solar panels and EV charging stations.

The national demographic profile of strata residents shows:

• 48% of apartment residents are aged 20-39 years
• 46% were born in Australia
• 47% of apartment households rent, while just 28% are owner-occupied
• More than half speak a language other than English at home

The strata management sector employs 2,796 full-time strata managers and 3,656 other employees at SCA member companies, which manage approximately 60% of all strata lots in Australia.

NSW: Leading in Strata

New South Wales stands out as the centre of Australia’s strata sector, with both the highest number of schemes and the highest proportion of residents living in strata properties (17%).

The latest data shows NSW contains:

• Over 1.07 million strata and community-titled lots (a 7% increase since 2022)
• 91,346 strata schemes
• Approximately 1.28 million people living in private apartments
• Property with a total insured value of approximately $486 billion

The employment picture in NSW is particularly strong, with 1,259 full-time strata managers and 854 other employees working at SCA member companies.

These companies manage 75% of all strata lots in the state, significantly higher than the national average.

Who Lives in Apartments in NSW?

The demographic profile of apartment residents in NSW reveals:

• Only 41% of apartment residents were born in Australia
• Less than half (47%) speak English at home
• Almost half (47%) of apartment residents are aged 20-39 years
• 48% of apartment households rent
• Lone person households (35%) are the most common household type

While 53% of strata schemes in NSW have five lots or fewer, these small schemes only contain 13% of all strata lots. Conversely, just 3% of schemes have more than 50 lots, but these larger developments contain over one-third (35%) of all strata lots in the state.

Download the Australasian Strata Insights 2024 Report

Download the NSW Strata Insights 2024 Report