More than one million extra people are expected to settle in South East Queensland in the next 20 years which means that council needs to plan for and manage this growth, and to understand the community’s vision as well as the constraints and the opportunities in meeting that vision. According to Tony Moore of The Brisbane Times– April 2010 – HOUSING SHORTAGES HITS HOMES IN QUEENSLAND.
In New South Wales the State Environmental Planning Policy invites anyone in a residential zone to build and rent out a granny flat in their backyard in order to help ease the housing shortage.
Smart investors in NSW and QLD are seeking out cheaper properties with back yards because they know that building a granny flat Australian backyards will give them an excellent return on investment and make them more money.
They do the sums: if an investor buys a property with a house on it then building a granny flat might cost an additional 10% of the property price, but it enables perhaps as much as double the income from rent, plus it adds value to the property when it comes to resale.
Granny flats in Australia are an excellent investment. The high rate of return on investment that comes with constructing a granny flat makes this form of investment very attractive.
Not only are granny flats a good investment for an investor, with the growing economical challenges faced by families with ageing parents and grandparents, granny flats are a fantastic alternative solution to downsizing options.
In comparison to buying into a retirement village that erodes the original investment or looking to purchase a room within an expensive aged care facility, when the family is able to accommodate their loved ones by erecting a granny flats or kit home, its a win win for all concerned.