Industry Anger at Strata Reform Delay
There is growing anger in the WA property industry with the continuing delay in introducing much-needed reforms to the state’s antiquated strata title laws. The industry is calling on the Minister for Lands, Terry Redman to reconsider an announcement last month that the reforms are unlikely to make the 2016 Parliamentary priorities.
“After more than five years of consultation and promises it is disappointing that we still are still no closer to achieving strata reforms in WA in the near future,” Property Council WA Executive Director Lino Iacomella said.
“It is crucial that the state’s property laws keep up with the growing popularity of strata titles in WA.
“Over 40 per cent of all new homes and many businesses in WA, are located in strata titled properties. However the current strata laws were not designed for this level of strata activity, which has resulted in a lot of complex systems and procedures for everyone involved in strata, including home buyers, property managers, investors and developers.
“Key reforms that we are waiting for, include: community titles and staged strata developments to create better places to live and work; leasehold strata to enable groups like universities and church groups to do strata development; improvements to management of strata schemes and easier ways to settled strata disputes; and better buyer information.
“Unfortunately the lack of strata reforms will impact the anticipated wave of activity centre development in Perth and the regions. Some developments will go ahead but they will miss out on the innovations that would be possible with reforms like community titles, and other developments will be delayed until the reforms are introduced.
“Meanwhile strata buyers and strata managers will have to continue to struggle with out-dated systems” said Mr Iacomella.
Media contact: Lino Iacomella | E [email protected]