Sydney-based proptech startup Co-operty has launched a new app that offers a modern solution to Australia’s housing affordability crisis through co-ownership.
Founded in 2023 by finance veterans Liz Rochaix and Lynda Coker (pictured above, left to right), Co-operty aims to make homeownership more accessible through a secure platform for co-ownership.
The newly released app streamlines the process for family members and friends to purchase property together, utilising the tenants-in-common registration for its adaptability.
“We believe co-ownership could be the key to solving Australia’s housing affordability crisis because it significantly reduces the cost to each party,” said Coker, CEO of Co-operty.
The model allows each party’s ownership share to be noted on the title, enabling separate sale or inheritance.
Co-operty emphasised the financial and practical benefits of co-ownership.
“By buying a home together as co-owners, people can step onto that first rung of the property ladder faster and more cost-effectively,” Coker said.
She also highlighted how co-ownership offers an advantageous route for parents assisting their children in entering the market, providing benefits from property appreciation and potential rental returns.
The app provides a secure digital environment for setting up co-ownership agreements and connecting with expert conveyancers, along with facilitating property valuation and referrals to mortgage brokers and financial advisors.
“Our initial focus is facilitating intra-family co-ownership... We are also excited to help housemates move from co-renting to co-owning,” Coker said, underscoring the app’s aim to make co-ownership flexible and straightforward.
Co-operty has established partnerships with industry leaders such as lawlab, PropTrack, Effi, Life Sherpa, and Simple KYC to ensure a comprehensive support network for co-buying, co-borrowing, and co-owning scenarios.
For more information on Co-operty and to access the app, visit www.co-operty.com.
Do you see co-ownership as a viable solution for entering the property market? Share your views and experiences in the comments below.
