Sustainability in strata, insurance affordability and availability, and a better quality environment are property peak body Strata Community Association’s (SCA) top priorities for future governments to address, ahead of the upcoming federal election.

SCA’s 2022 campaign is prioritising three key areas of reform for the strata property sector, which if enacted, will build a better quality built environment, and improve the lives of millions of owners and residents living in strata complexes such as apartments and townhouses.

The size of the strata industry and its impact on Australian life is growing as 5 million Australians, or 20 per cent of the population live in strata, the total value of strata dwellings is $1.3 trillion and the industry contributes $6.7 billion annually to the economy.

SCA National President Chris Duggan said that without investment and innovation in strata, the goals that each of the major parties are aiming for at this election are unattainable.

“The strata sector is a sleeping giant, which has the potential if unlocked to deliver massive change for the critical areas the government is targeting like net zero, cost of living pressures and housing affordability,” he said.

“We’re approximately 20 per cent of the population, but a huge proportion of the built environment, so a decision to give a grant to a building can affect hundreds of people and greater impact and have a huge multiplier effect on outcomes overall.

“That’s why we are proposing a flagship National Strata Sustainability Fund, to provide investment to turbocharge sustainability upgrades in strata buildings like EV charging stations, improved waste systems, more energy efficient buildings and better water usage,” said Mr Duggan.

The National Strata Sustainability Fund would provide low interest/no interest financing to owners corporations and bodies corporate, funding for education initiatives and incentivising strata communities to further their involvement in existing sustainability programs and grants such as NABERS.

“Another priority is to eradicate the high prevalence of building defects in strata complexes,” said Mr Duggan. “The tragedy of the Grenfell Towers fire in 2017 and the financial ruin experienced by so many in the Mascot and

Opal Towers buildings are a stark reminder that we must do better with buildings.

“We know the path forward, but we need leadership and cooperation between governments to get there, not just in one state or territory, but across the whole of Australia.

“We’re calling on the federal government and opposition to commit to the implementation of the model guidance from the Building Confidence Report (BCR), support the introduction of customer facing rating tools that give consumers more transparency and expand building warranty schemes to include buildings more than three storeys in all jurisdictions including exploring the introduction of decennial liability insurance.

“Our final priority is to make insurance more affordable and accessible for strata owners.

“We want to see governments act in the best interests of consumers, by governments at all levels reducing unnecessary fees, duties and levies and direct funding into efforts such as mitigation and weatherproofing that will drive down premiums and increase protections in the future.

 “It is our hope that all of the parties contesting this election recognise the value in these non-partisan priorities, and sign up to harness the multiplier effect of strata into the future,” said Mr Duggan.

Read the full SCA Election Priorities document via link in below contact form - SCA Federal Election Priorities 2022