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The Australian Granny Flat Boom

The Australian Granny Flat Boom

1 Apr 2016 Professionals Real Estate 0 Comment

When you think of a typical granny flat you might think of an old building out the back reserved for an extra family member, but they have gone through a revolution of late and are popping up in backyards all over the country.

In Sydney in particular, the humble granny flat has seen a boom. NSW Government statistics show that more than 100 granny flats are being built each week in Sydney – that’s three times the rate of construction compared to five years ago.

So, why the huge increase in popularity?

There are a variety of reasons why people are choosing to build a granny flat on their block. For some it can be provide an additional rental income, and for others it is also a way to provide extra living space or an office or studio separate from the main house.

With the increasing cost of living and many young people staying home longer, it’s also common for granny flats to be built to allow kids to stay at home longer yet also have their own space and independence away from the main household.

Those thinking about building a granny flat should keep in mind that they might not be a practical idea for every property though.

You should do your own research before making any changes to your property and check whether your property is suitable for an extra dwelling.

There are regulations around construction and who can occupy the extra dwelling, and these will differ from state to state, so you really need to check what rules apply to your property with your local council.

It’s also worth considering what a granny flat could do to the resale value of your property. While it might seem like a good idea to have the extra living space, it will take away some of your backyard space, which a lot of people will prefer.

Always seek out advice first and talk to local builders to find out the best options for your and your property.

Australia real estate granny flat living space market property real estate real estate trend Residential studio housing Sydney

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