Cross-lease titles in Grasmere
LINZ records 80 cross-lease titles in Grasmere, 6.1% of its 1,302 live titles: slightly below Invercargill City as a whole (7.3%) and below New Zealand (8.7%).
- Cross-lease titles
- 80
- Share of live titles
- 6.1%
- Invercargill City share
- 7.3%
- New Zealand share
- 8.7%
- Rank by share in Invercargill City, among suburbs with 50+ cross-lease titles
- 10 of 11
By share it is 2nd lowest of 11 in Invercargill City, among suburbs with 50 or more cross-lease titles; across New Zealand it is in the bottom quarter of the 559 such suburbs.
How the cross-leases in Grasmere are set up
Fewer schemes have four or more flats on one section (3%, against 11% nationally).
Fewer schemes refer to more than one flats plan (12%, against 36% nationally), usually because a plan was redrawn.
Three-flat schemes are more common here (36%, against 12% nationally).
| Scheme structure | Grasmere | Invercargill City | New Zealand |
|---|---|---|---|
| Cross-lease schemes (shared sections) | 33 | 714 | 87,651 |
| Two-flat schemes | 60.6% | 53.8% | 76.2% |
| Three-flat schemes | 36.4% | 22.8% | 12.2% |
| Four or more flats | 3.0% | 22.7% | 11.4% |
| Typical section size (from the titles, not a survey) | 1,012 m² | 994 m² | 908 m² |
| Typical land per flat | 370 m² | 362 m² | 408 m² |
| Schemes with a garage written into a lease | 33.3% | 33.6% | 28.4% |
| Schemes with a carport in a lease | 15.2% | 16.1% | 13.3% |
| Schemes with a separate exclusive-use area | 3.0% | 1.7% | 4.5% |
| Schemes referring to more than one flats plan (usually redrawn; not by itself a problem) | 12.1% | 23.0% | 35.6% |
| Median year of earliest current title | 1981 | 1982 | 1988 |
| Two-flat schemes on 700 m² or more | 17 | 326 | 54,978 |