Dual living acreage properties have become increasingly popular, primarily for family members but also for rental income. The 4213 postcode offers many properties with either a separate dwelling or dual living under the same roof.
According to Michael Matusik, at present one in five (18%) of Australia’s households hold two generations and some ten percent (9%) hold three generations. These figures are expected to rise to 24% and 13%, respectively, within the next decade.
Recent analysis by CoreLogic has found that building a secondary self-contained home in the backyard can lift the overall properties value by up to 30% and adds around 27% to an investment properties previous rental income.
Research by Michael Matusik found that the inclusion of a $185,000 small home (including development approval and infrastructure costs) – in the Brisbane context – can achieve gross rental yields of between 8% to 10% for permanent tenancies and between 15% and 20% for short-term occupancies.
Their research also found that middle-ring detached homes with a fully-compliant and high quality one-bedroom secondary residence resell for between 12% and 15% more than other dwellings in the same location without a secondary abode.
The demand for backyard housing solutions is high and rising.
And the supply of housing that caters well for multi-generational and other household members is in short supply.
Gold Coast City Council town planning guidelines allow for a second dwelling up to 80m2 to be built and this may be used for family accommodation or for rental income. We see demand for dual living acreage properties increasing as children and parents combine financial resources to help out each other and live separately but on the same property.
If you would like any advice regarding dual living acreage properties in the 4213 postcode, feel free to contact Karl on 0413 723 288 or firstname.lastname@example.org.
Information used from article published at: matusik.com.au