Cross-lease titles in Island Bay
LINZ records 150 cross-lease titles in Island Bay, 4.9% of its 3,044 live titles: slightly below Wellington City as a whole (5.6%) and well below New Zealand (8.7%).
Island Bay: cross-lease titles
- Cross-lease titles
- 150
- Share of live titles
- 4.9%
- Wellington City share
- 5.6%
- New Zealand share
- 8.7%
- Rank by share in Wellington City, among suburbs with 50+ cross-lease titles
- 20 of 23
By share it is in the lowest quarter of 23 in Wellington 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 Island Bay are set up
Fewer leases include a garage (7% of schemes, against 28% nationally).
Separate exclusive-use areas are less common (2% of schemes, against 5% nationally).
Carports appear in fewer leases (6% of schemes, against 13% nationally).
| Scheme structure | Island Bay | Wellington City | New Zealand |
|---|---|---|---|
| Cross-lease schemes (shared sections) | 68 | 2,130 | 87,651 |
| Two-flat schemes | 83.8% | 82.4% | 76.2% |
| Three-flat schemes | 5.9% | 6.7% | 12.2% |
| Four or more flats | 10.3% | 10.4% | 11.4% |
| Typical section size (from the titles, not a survey) | 786 m² | 759 m² | 908 m² |
| Typical land per flat | 366 m² | 350 m² | 408 m² |
| Schemes with a garage written into a lease | 7.4% | 18.0% | 28.4% |
| Schemes with a carport in a lease | 5.9% | 8.1% | 13.3% |
| Schemes with a separate exclusive-use area | 1.5% | 4.3% | 4.5% |
| Schemes referring to more than one flats plan (usually redrawn; not by itself a problem) | 35.3% | 22.5% | 35.6% |
| Median year of earliest current title | 1992 | 1987 | 1988 |
| Two-flat schemes on 700 m² or more | 36 | 991 | 54,978 |