Between 2006 and 2016, the ACT has been the third fastest growing state or territory in Australia (behind Victoria and Queensland), increasing in population by 20 per cent.
With the ACT’s population surging, it’s essential we make changes to avoid sprawl. The government has taken the initiative on this, and has announced a pilot program to better regulate strata property and multi-use buildings.
Our current system in the ACT
Currently, the legislation around strata property in the ACT is incredibly complex, with different sets of rules and regulations for those that own, lease or visit strata property for business purposes. This, of course, becomes incredibly disjointed and confusing when issues arise and owners don’t know who is responsible for what.
Further, there isn’t sufficient legislation around larger developments that are built over extended periods of time, which leads to a lack of clarity around the roles of developers and the strata managing firms.
What new regulation will achieve
The new regulations planned for the pilot will:
- Minimise potential conflicts between owners, users and managers of mixed-use developments by adding clarity at the purchase level
- Cut some of the red tape around mixed-used developments
- Ensure that the shared facilities and services in mixed-use developments are administered more fairly
Strata is essential to ensuring that Canberra remains a wonderful place to live, and these changes show that the government is committed to sustainable, regulated strata development.