Information Disclosure & Residential ‘Off the Plan’ Sales Contracts

There is an increasing trend in development approvals for attached dwellings (i.e. apartments, units, townhouses and duplexes) compared to single-family homes in Australia, prompting property developers to capitalize on consumer desires for liveability and lifestyle. The increase in apartment development has also been perceived to address issues of housing affordability, with the Australian desire for home ownership still one of the highest in the world, despite the costs. However, there is a fundamental lack of understanding on what strata titling is among consumers. Strata titling enables individual titling of lots (e.g. apartments) as well as shared ownership of the property used in common (i.e. lobby, garages, driveways and gardens).