With the traditional living arrangements of the Australian family shifting due to the ageing population, kids flying the coop later in life and families looking to invest in an additional income stream, the construction of granny flats has become a cheaper alternative for Australian families looking to invest in a flexible living space.
Although some commentators argue that granny flats don’t add value, create backyard eyesores and attract capital gains tax, with almost 5,000 granny flats built in NSW each year it seems granny flats are here to stay!
In recent times we have seen that a granny flat boom is taking over the Sydney property market particularly in the inner western suburbs. Astoundingly between 2009 and 2014 Sydney experienced a 260% increase in the construction of granny flats due to the legislative change allowing 10-day approval.
To ensure that your granny flat is well-designed and easily approved we have a free 10 step checklist to give away. The ‘10 Steps To Approve Your Granny Flat In 10-Days’ checklist is available by simply sending your name, preferred email and contact number to shelby.cockburn@prudential.com.au
Acknowledgements: Duncan Hughes, Ingrid Fuary- Wagner & Hannah Hempenstall.
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