As Australia comes to grips with an urban housing crisis, authorities are acknowledging the community needs a variety of housing options to choose from.
Council’s are making regulations simpler to understand and implement as the concept of smaller housing evolves to meet the market.
More than ever before, the opportunity to build a granny flat on your land is a logical and prudent investment choice.
As a result, there’s never been a better time to consider doing a dual occupancy or even subdividing a residential block, according to Terry Clayton, from Newcastle Granny Flats and Homes.
“A recent report suggested 46 per cent of all rented property – from the humble bedsitter to a stylish apartment in a high-rise with a view of the harbour – is occupied by a single tenant, and a second report I read stated 66 per cent of the entire rental market occupies a property where they have more bedrooms than they require. In effect, they are renting a place that’s to big for their needs.”
Terry believes the composition of our communities is changing and as the market nears a point where 50 per cent of all property is rented and 50 per cent owner-occupied, the biggest area of investment opportunity is not in big housing but rather smaller dwellings that offer modern inclusions and access to important things like employment hubs, shops, transport, restaurants and outdoor venues or parks.
“More than ever before, the opportunity to build a granny flat on your land is a logical and prudent investment choice,” Terry said
“However, the advantages of building something larger than a granny flat and divide your land as a dual occupancy or strata subdivision shouldn’t be ignored.
“It’s a boon for investors and families with live-in parents, or a son or daughter who wants to live near their family and own part of the land. This could be the answer to a family’s housing needs.”
Currently the rules that govern dual occupancy subdivisions have been relaxed.
Blocks that previously would not comply under previous regulations are suitable for consideration, opening up the possibilities.
If you’re thinking about a granny flat, dual occupancy or even a strata subdivision, contact Newcastle Granny Flats and Homes on 1300 721 150 or visit their showroom at 124-126 Maitland Road, Mayfield and speak to their professional staff.