Conference paper
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apo-nid178206.docx 1.01 MB
Description

Auckland has 47% of New Zealand’s multi-owned properties, and they account for 31% of all properties in Auckland. These multi-owned properties are either unit titles (strata titles), or cross leases. Cross leases are a unique form of property ownership developed by a lawyer in the late 1950s to allow the ownership of units within a building. From the 1960s to 1990s cross leases found a second life when they become a popular way to circumvent planning and subdivision rules allowing for the infill development of houses in existing suburbs with large lots.It is expected that Auckland will need an additional 400,000 dwellings by 2041, with Auckland’s new planning framework providing the zoning for many of these through the intensification of existing suburbs and urban redevelopment in and around town centres. However property boundaries as well as ownership structures, including unit titles and cross leases, may play a considerable role in how intensification or urban redevelopment is realised in many locations.Quantitative analysis of property data undertaken for this study provides the number, characteristics, and location of unit title and cross lease properties in the Auckland region. In order to better understand the issues and potential solutions concerning multi-owned property, qualitative in-depth interviews were conducted with industry professionals who have had first-hand experience with cross lease and unit title properties in Auckland. The combined results from this quantitative and qualitative research underscore the widespread effect that multi-owned properties are likely to have on the future planned residential redevelopment and intensification of Auckland.

Publication Details
Publication Year:
2018