Australia’s love affair with Granny Flats continues to grow.
The Housing Industry Association has released the number of Granny Flats built in 2018 with New South Wales topping the leaders board with over 6,000 being built. In comparison to Victoria which had less than 200 built for the year which means they came in last.
The difference is largely due to New South Wales more flexible regulations allowing Granny Flats to be rented out to unrelated parties. Where as Victoria’s regulations are somewhat more strict only allowing dependents from the main dwelling to occupy the building. It’s only a matter of time before Victoria follows New South Wales lead in easing regulations as housing affordability becomes a significant driver.
Granny Flats Australia wide will continue to play an important role within the housing industry with design, versatility and flexibility offering older and younger generations affordable independence.
Investors are also seizing on the opportunity to increase their returns on their investments by generating additional income with the addition of Granny Flats.