Liability Insurance Australia :: News

Share this news item!

Strata Properties in Australia Reach $1.4 Trillion in Value

⚠️The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The insured value of strata properties across Australia has soared to an estimated $1.4 trillion, according to a recent industry report.

This significant figure highlights the growing importance of the strata sector, which now encompasses properties worth $486 billion in New South Wales, $471 billion in Victoria, $245 billion in Queensland, and $112 billion in Western Australia.

South Australia, the Australian Capital Territory, Tasmania, and the Northern Territory round out the country's strata market.

The report also points out that 4.2 million Australians, about 15% of the national population, reside in strata-titled properties. This marks an increase of 200,000 residents since 2022. Strata living is particularly significant in urban locales, where it has become an integral part of the lifestyle for many.

The composition of strata properties is varied, with half of all buildings containing fewer than 20 lots. In contrast, larger complexes with a minimum of 100 lots accommodate 21% of strata residents. The demographic distribution shows that nearly half of the apartment inhabitants are aged between 20 and 39, and a similar proportion were born overseas, underscoring the diversity within these communities.

As considerable portions of Australia's urban population opt for strata living, the need for sustainable management and upgrades of older buildings becomes apparent. Nearly half of these structures are over 25 years old, prompting calls for enhanced maintenance, quality assurance, and regulatory measures. With strata developments serving as a 'way of life for millions,' ensuring their long-term viability is now more crucial than ever.

The Strata Community Association, in collaboration with the University of NSW City Futures Research Centre, underscores the necessity for concerted efforts among government, industry players, and stakeholders to uphold the quality and standards of strata properties. Proactive solutions are needed to address the challenges of older buildings and the expectations of a diverse population increasingly choosing strata living for its convenience and communal benefits.

The focus is now on implementing strong regulatory frameworks and advocating for improvements in building quality and insurance protections. The Strata Community Association calls for unified action to shape the future of strata living in Australia. This entails a strategic approach involving policy adjustments and innovations in building management practices to cater to the evolving needs of the strata sector.

As the majority of privately-owned apartments and certain townhouses and houses in planned estates are now strata-titled, the role of strata communities is set to expand further. Future developments may include legislative updates, investment in infrastructure improvements, and educational initiatives to guide property owners and managers in fostering sustainable and thriving communities.

Published:Tuesday, 8th Apr 2025
Author: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Significant Decline in Australian Commercial Insurance Rates

25 Mar 2026: Paige Estritori

In the final quarter of 2025, Australian commercial insurance rates experienced a substantial decline of 12%, marking the most significant drop among the eight regions monitored by Marsh Risk's Global Insurance Market Index. This trend reflects a broader pattern of decreasing rates that began in early 2024, with the Pacific region, predominantly Australia, leading the way. - read more

Human Factors Dominate Causes of Major Truck Crashes in Australia

25 Mar 2026: Paige Estritori

The National Truck Accident Research Centre's 2025 Major Incident Investigation Report, supported by NTI, has identified human error as the predominant cause of major truck crashes in Australia. The report indicates that factors such as inattention, distraction, and inappropriate speed account for a significant proportion of these incidents. - read more

ASIC Launches Review into Motor Insurance Pricing Practices

25 Mar 2026: Paige Estritori

The Australian Securities and Investments Commission (ASIC) has initiated a comprehensive review into the accuracy and transparency of motor insurance pricing among major insurers, covering approximately two-thirds of the car insurance market. This investigation aims to ensure that insurers comply with legal disclosure requirements and provide clear explanations for premium calculations. - read more

AIA Australia's Latest Enhancements to Priority Protection Insurance

24 Mar 2026: Paige Estritori

AIA Australia has recently updated its Priority Protection life insurance suite, introducing changes designed to simplify discounts, enhance policy clarity, and support premium affordability. These enhancements, effective from 9 November 2025, reflect AIA's commitment to providing value-driven solutions for policyholders. - read more

Australia's Life Insurance Coverage Falls Short of Global Standards

24 Mar 2026: Paige Estritori

Recent findings from a survey conducted by Zurich and the University of Oxford reveal that Australia has one of the lowest life insurance penetration rates globally. The study indicates that only 27% of Australians have income protection insurance, and 25% possess life insurance coverage. These figures are notably lower than the global averages of 33% for income protection and 32% for life insurance. - read more

Click for more Insurance News

Business Insurance Articles

Reducing Your Risks: Public Liability Coverage Tips for Trade Professionals

For tradesmen and trade professionals, venturing into the world of business comes with its set of challenges and risks. Among the myriad of precautions to consider, one critical safeguard stands out for its ability to protect both the tradesperson and their clients: Public Liability Insurance. This form of coverage is not just a safety net; it is a cornerstone of a responsible business practice within the trade industry. - read more

Why Every Business Needs Public Liability Insurance

Welcome to our comprehensive guide on public liability insurance. If you run a business, you've probably heard this term thrown around quite often. But what exactly is public liability insurance? - read more

Understanding The Costs: How Much Does Public Liability Insurance Typically Cost?

Public liability insurance is a crucial form of protection for both businesses and individuals, safeguarding them against potential claims for personal injury or property damage that occur as a result of their operations or services. In an increasingly litigious society, having this coverage can mean the difference between staying afloat financially and facing business closure due to unexpected claims. - read more

Understanding the Key Factors Influencing Your Liability Insurance Premiums

Liability insurance is a form of coverage that protects businesses against claims resulting from injuries and damage to people or property. It provides crucial peace of mind, ensuring that your business is shielded from potentially devastating financial losses due to lawsuits or claims against it. - read more

Understanding Liability Insurance: A Must-Read for Australian Business Owners

As a business owner in Australia, navigating the complexities of insurance is crucial to safeguard your enterprise against unforeseen events. Liability insurance emerges as a cornerstone of a sound risk management plan, protecting you financially when held responsible for accidents, injuries or negligence. Its importance cannot be understated, as it serves not only to defend your business assets but also to ensure peace of mind in a climate of continually evolving liabilities. - read more

Start Here !

Knowledgebase

Insurance Deductible:
the amount that an insured is required to contribute toward an insurance claim as stipulated in an insurance policy. Otherwise known as the "policy excess".

This website is owned and operated by Clark Family Pty Ltd (as Trustee for the Clark Family Trust) 43 Larch Street Tallebudgera QLD 4228, A.C.N. 010281008, authorised Financial Services Representative of Unique Group Broker Services Pty Ltd, Australian Financial Services License 509434. Visit the ASIC website for additional licensing information.

IMPORTANT: We are neither authorised nor licensed to provide finance or financial products and we do not offer any form of credit or other financial advice. All product enquiries and requests for financial and/or other advice on this website are referred to third party intermediaries, insurers and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for vaidating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.