That's great news for Residents / Owners in new Developments and for those that already have metering to individual Units, but I have a strong feeling that such Developments are in the minority, and after 30+ years in the Water Industry I know that Water Authorities have thereby succeeded in missing a boat that they never really wanted to catch.
Whilst Sydney Water and others may (again) “explore” frameworks whereby Owners Corporations (O/C) may retrofit sub-meters to individual Lots, that's just code for “we might tell you how it can be done and we might give you the meters, but you'll have to pay the plumber, you'll have to do the readings, and you'll have to do the billing”.
Access aside, readings aren't too difficult but with regard to billing, Lot Owners' Contributions are a product of the Plan's Budget and the fixed Units of Entitlement created when the Plan was Registered, and whilst the component of a Budget that relates to water usage for the Common Property may be off-set to account for Income received from Proprietors' Reimbursements (for their Lots' water usage), believe me that's not easy to manage OR to have resolved at an AGM; I've tried.
In the interests of Demand Management and more considered water use by households and others, I sincerely hope that some practical solution emerges from the latest deliberations, but deep-down I'm skeptical as that boat's long left the pier.