PROPERTY DEVELOPMENT

Strata Developments exceed monthly three year averages

May 8 2016
Strata developments

 

PERTH, WESTERN AUSTRALIA – New April 2016 figures from Landgate have shown positive growth in strata developments in Western Australia.

The results published in Landgate’s April Business Activity Profile state the number of strata lots created has continued to climb and exceed monthly three year averages, lifting by 242 additional lots month on month from March 2016 results.

Landgate’s Chief Executive Mike Bradford said that April 2016 strata lot figures were, “the highest monthly figure since May 2007.”

This is positive news for Western Australian Class 2 development companies such as Multi Living Developments and builders of unit developments like Ventura iD, who specialise in strata developments.

Strata lots created March and April 2016

Comparison of April 2016 data with March 2016 (Source: Landgate BAP – April 21016)

Strata lots are defined as “a defined portion of a building, group of buildings or land for which a separate Certificate of Title is issued.” Strata property types include apartments, townhouses, mixed residential/ commercial and services apartments.

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