In an era of housing shortages and escalating property prices, innovative solutions are needed to meet the growing demand for well-located, affordable housing. One such solution lies in the potential of strata reform, as revealed by new research conducted by Urbis.
The study, which utilised spatial data to identify strata developments within a 15km radius of Melbourne’s CBD, found that over 1,000 sites could collectively deliver over 100,000 additional dwellings. This significant uplift in housing supply could be achieved by repositioning underdeveloped strata sites, a move that Urbis Director, Mark Dawson, believes is critical.
“Repositioning underdeveloped strata sites has the potential to deliver a much-needed uplift in well-located housing supply,” Dawson said. “Notably, around half of this dwelling uplift is located within the City of Melbourne. With over 140,000 key workers employed within the City of Melbourne, additional housing supply close to employment centres would provide critical relief to those who often need to live close to where they work.”
