Impact of strata on Australian and New Zealand markets

The concept of strata or unit title is relatively new. Strata title came into being around 50 years ago and, according to the Strata Community Association (SCA), and other research, there are an estimated 270,000 such schemes encompassing more than 2 million land lots (with strata and community titles potentially closer to 3 million) in Australia and 2.2 million land titles in New Zealand.