Australians Now Prefer

Granny Flats

Granny Flats WA

Address: 92 McCoy Street

Booragoon Contact Number: (08) 9329 6888

E-mail: Sales@grannyflatswa.com

Granny flats are taking the lead when it comes to housing trends in

Australia. Property owners and first time homebuyers are looking into them

as an investment and alternative dwellings. The trend is likely to continue

due to rising property prices.

There is a significant increase in the number of granny flats across Australia,

as more people renovate and rent out their extra space at home. They

convert their backyards and garages not only to accommodate their families,

but to gain ROI from prospective tenants, as well. Many people are actually

making their home as an investment property.

The latest BankWest Housing Density

report stated that about 43% of all

home building approvals came from

multi-unit dwellings, considerably

higher than 20-year average rate of

33.7%. Around 4818 new granny flats

were built last year, almost twice the

number of dwellings in 2014 (2867)

and thrice in 2010 (1511), according

to the NSW Department of Planning

and Environment.

Demand for granny flats went up in other places, as well. Construction

activity rose in several areas, such as Penrith, Warringah, Bankstown,

Fairfield and Auburn. Ever since the government allowed nonrelatives to rent

granny flats or “ancillary dwellings,” people began constructing them in their

backyards.

Housing experts attribute the rising

demand for granny flats to property

prices, which are not showing signs

of going down. In fact, RP Data

CoreLogic revealed that the median

dwelling price nationally for a

capital city home is $560,000. The

most expensive place to live in is

still Sydney, having a 14.5%

increase in the last 12 months.

People get considerable returns

from leasing out granny flats.

Rich Harvey of

propertybuyer.com.au said that a

new granny flat in Sydney’s West

worth $60,000 to $80,000 yields

around $250–$280 or 24% a

week. A 60sq m home costs

about $100,000 and may

produce around $300 or 15%

rental return in a week,

according to Real Estate Institute

of NSW president Malcolm Gunning

Sources:

http://www.sbs.com.au/news/article/2015/05/01/granny-flats-rise-property-

prices-increase-0

http://www.news.com.au/finance/real-estate/house-prices-ignite-boom-

innbspgranny-flats-across-nsw/story-fnd91nhy-1227323305919

http://www.yourmortgage.com.au/article/small-box-big-returns-investing-

in-a-granny-flat-123051.aspx