Cross-lease titles in Richmond, Invercargill City
LINZ records 230 cross-lease titles in Richmond, 19.2% of its 1,195 live titles: well above Invercargill City as a whole (7.3%) and well above New Zealand (8.7%).
Richmond, Invercargill City: cross-lease titles
- Cross-lease titles
- 230
- Share of live titles
- 19.2%
- Invercargill City share
- 7.3%
- New Zealand share
- 8.7%
- Rank by share in Invercargill City, among suburbs with 50+ cross-lease titles
- 3 of 11
By share it is 3rd highest of 11 in Invercargill City, among suburbs with 50 or more cross-lease titles; across New Zealand it is in the top quarter of the 559 such suburbs.
How the cross-leases in Richmond are set up
Separate exclusive-use areas are less common (1% of schemes, against 5% nationally).
More schemes have four or more flats on one section (22%, against 11% nationally), up to 6.
Three-flat schemes are more common here (17%, against 12% nationally).
| Scheme structure | Richmond | Invercargill City | New Zealand |
|---|---|---|---|
| Cross-lease schemes (shared sections) | 88 | 714 | 87,651 |
| Two-flat schemes | 61.4% | 53.8% | 76.2% |
| Three-flat schemes | 17.0% | 22.8% | 12.2% |
| Four or more flats | 21.6% | 22.7% | 11.4% |
| Typical section size (from the titles, not a survey) | 927 m² | 994 m² | 908 m² |
| Typical land per flat | 363 m² | 362 m² | 408 m² |
| Schemes with a garage written into a lease | 31.8% | 33.6% | 28.4% |
| Schemes with a carport in a lease | 18.2% | 16.1% | 13.3% |
| Schemes with a separate exclusive-use area | 1.1% | 1.7% | 4.5% |
| Schemes referring to more than one flats plan (usually redrawn; not by itself a problem) | 28.4% | 23.0% | 35.6% |
| Median year of earliest current title | 1981 | 1982 | 1988 |
| Two-flat schemes on 700 m² or more | 42 | 326 | 54,978 |