A Growing Interest in Granny Flats: How Australia’s Property Boom Spurs Appeal
Classic Granny Flats Address: 37 Winton Road, Joondalup WA 6027 Phone: (08) 9301 2122
Granny flats. Their style is modern, sleek, stunning and appealing. Colourful gardens, pots of flowers and veggie patches are being transformed into the latest real estate obsession. This is the reason they are getting a big response from Aussies – everyone from young couples to first-time homebuyers and seniors. In fact, a new report reveals that more and more homeowners today are building backyard apartments to rent out. The trend, according to industry professionals, is due to the scarcity of affordable residential properties for sale. A Great Investment New building figures have shed some light on granny flats’ benefits. NSW Department of Planning and Environment shares that there are approximately 4, 818 new granny flats built a year ago. They said the rate is nearly twice the 2, 867 built in 2013 and three times more than what many have been developed in 2010. The country’s authorities explained that the shortage of budget-friendly housing is so low that most lower-income employees have decided to just find a place to rent miles away from their workplace. Though the housing market’s costly price is a bad news for most workers, the trend of granny flats shows the positive side and the investment opportunities for homeowners. Growing Demand The trend began in Sydney and has now spread to other cities. The demand for granny flats soared in Perth and other cities. Industry professionals pointed out that the move is Australian’s sense of entrepreneurship at work. Frugal, practical and hardworking families use their properties to earn extra income. The structure, dependability and affordability are the key reasons granny flats are gaining recognition. Designs are also varied, so homeowners feel free to design the space
without destroying the value of the first home. The beauty here is that homeowners can build the secondary dwelling quickly and affordably. Building a granny flat in the backyard, just like with any other big investment, needs smart planning and thoughtfu l decisions.
Resources: http://www.dailytelegraph.com.au/realestate/news/granny-flat-boom-engulfswestern-sydney-as-homeowners-adjust-to-soaring-house-prices/story-fni0cly61227231500328 http://www.classicgrannyflatswa.com.au/ http://www.yourmortgage.com.au/article/granny-flats-why-theyre-a-growingtrend-180764.aspx