Are Australians More Into Granny Flats Nowadays?
Classic Granny Flats 37 Winton Road, Joondalup WA 6027 (08) 9301 2122
Reports say that housing prices grew 1.9% last June and 1.5% in September. For the last 12 months, the Australian Bureau of Statistics informed that the national Residential Property Price Index went up by as much as 9.1%. With this gradual increase in housing prices, many Australians are choosing a much lower-cost housing option: granny flats. Data shows that it reached its highest demand just this last July, proving to be a viable alternative for the standard house. More than its affordability, granny flats are simply practical. Many people find its features quite doable for a temporary or permanent house. According to a trusted granny flat finder site, 21,000 Australians have visited the online market for the practical home option. Over a hundred contracts received at least 10 enquiries each day for the past two months.
Not Solely for the Elders Anymore Experts pointed out that this surge for granny flats in July saw the busiest month for the business. Many builders have integrated contemporary designs and functionalities to meet the growing residential preferences of various people. In fact, reports in Western Australia say that there was a considerable increase in the number of queries for granny flats that are not mainly for their older relatives. This was since the State Government announced a change in its legislation in March, allowing non-relatives to rent or occupy granny flats. Building companies said that the average age of people enquiring for granny flats is around 55 to 75 years old individuals. The main reason for their query is to rent out their main house.
Market Support from the Government The national leaders saw the increase in demand and need of Australians for granny flats. That is why they speed up the legal process and approved more applications. More than 75% in the number of granny flats were approved, giving more people the opportunity to build a low-budget home. This support from the government gives investors a better opportunity to gain additional income. As granny flats are more affordable than normal houses and take up lesser space, more people would seek the services of builders. As they work on a contractual basis, their income significantly rose, as well. Granny flats offer more than one function. These can be valuable as an asset for residential rental business and add value to a property. When considering a good investment, never overlook granny flats. RESOURCES: Classic Granny Flats http://www.classicgrannyflatswa.com.au/ Granny Flats Reach New Highs of Popularity http://www.newsmaker.com.au/news/31683/granny-flats-reach-newhighs-of-popularity#.VHLzrjSUd66 Australia’s Housing Price Growth Is Showing Signs of a Slowdown http://www.businessinsider.com.au/australias-housing-price-growth-isshowing-signs-of-a-slowdown-2014-11 Inquiry rates for granny flats soar in WA http://www.news.com.au/finance/real-estate/gran-d-slam/story-fndbaln91226715100465 Older WA women at greater risk of homelessness
http://www.sciencewa.net.au/topics/social-science/item/2796-olderwa-women-at-greater-risk-of-homelessness/2796-older-wa-womenat-greater-risk-of-homelessness