Higher Density Plan Drives Strata Managers Growth 17/10/2009 Sydney’s metropolitan planning strategy which focuses on higher density urban living is proving to be a driving force affecting the growth of strata management companies.
Mr Richard Tooker, director of New South Wales Strata Management Pty Ltd, one of the State’s largest such companies, says urban consolidation and a predominant focus on higher density housing is leading to an increase in business that has little hope of abating.
His goal, at this stage, is for his company to match the call for strata management assistance through further expansion and the recruitment and training of people adequately knowledgeable to service the rapid increase in the development of strata title properties.
To accomplish its work the Company employs a large team of professional strata managers who are supported by a strong network of administrative staff with access to high-tech computer software. This says Mr Tooker is the only way to stay abreast of both the need for growth and to be able to respond to a regulatory system in constant flux. Together this extended network is responsible for overseeing literally hundreds of strata schemes.
“Sydney has the highest concentration of strata titled properties in the nation. Strata title is the predominant ownership and management form, and plans are afoot to see this major expansion of higher density residential development continue. In fact strata is amongst the fastest growing forms of residential living.”
Mr Tooker notes that of Australia’s approximately 3.5 million people who currently live under the strata title system, about 2 million of these live in NSW.
He says his company’s growth and success has followed this growth pattern to a high degree. “We have always sought to achieve steady growth, based on a superior level of service, avoiding expansion just for growths sake. We have had to expand several times now, and looking toward the future there will be further growth, there’s no doubt. This is being preordained by Sydney’s metropolitan strategy.”
According to figures from the NSW Department of Lands 2007, there were 65,276 strata schemes in operation in NSW. The number of strata lots totalled 731,676. Inner Sydney had 21,215, and Greater Sydney 43,772. This shows the magnitude of the issue, and the figures and now several years behind.
This says Mr Tooker, is a vast departure from the traditional way of living when low density was the key and most people lived in a separate single family dwelling situated on individual plots of land.
“Greater Sydney has a population of about 4.12 million people, with about 27.5 per cent of these living in strata developments. Over the next 25 years this number is expected to rise to around 45 per cent. That’s a lot of people.”
According to a research paper by the City Futures Research Centre, University of New South Wales, entitled Governing the Compact City: The Governance of Strata Title Developments in Sydney, “...as an increasing proportion of the population move into strata schemes ... the supply of skilled strata professionals may not be able to keep pace with demand”.
For his part, Mr Tooker says his organisation will indeed measure up. “Yet our focus on the delivery of high quality assistance will have to be met. That is as usual, the real challenge.”
He said that an owners’ corporation unsure if they are acting in complete compliance with the Strata Schemes Management Act can contact New South Wales Strata Management direct on 9890 1841 and arrange to discuss a review of their current status.
New South Wales Strata Management (formerly Gilmour Strata Management) commenced business in early 1991, as a member of the highly respected J A Gilmour & Sons group of companies. Licensed solely and specialising only in strata management services, the company has steadily grown to become one of the largest such organisations in New South Wales.
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