With construction in New South Wales hitting record levels in 2015 home owners are taking to their own backyard to build on their own land as a reaction to ever tightening housing market.
Around 75 per cent more home owners are building on their block land by adding a granny flats or subdivisions to it.
A professor of Urban Planning and Policy at Sydney University Peter Phibbs stated that subdivisions on larger blocks could become a substantial source of housing supply as Sydney residents seek to make use of wealth tied up in their land.
“People are trying to use their lots to turn one into two, it’s their superannuation for later life, or a start for their kids in the housing markets,” said Professor Phibbs. “I can see a growth model: gentrification on bigger lots and more dual occupancy. Sydney could easily achieve its [housing] targets [that way]”.
In the last financial year there were about 4500 subdivision certificates issued which was about a 10 per cent increase on prior financial year and with granny flats approvals surging this maybe an indication on young people staying at home for longer with data from ABS showing the number of people under 25 moving out has fallen about 20 per cent in the last 5 years.
The Dragon Group’s Property and Development division are specialises in custom built Granny Flats throughout Sydney with Paul Jeffries (No. 64798S) a Master Builder with over 20 years building a construction under his belt heading up the division and the pick of highly talented skilled & ticketed candidates from Dragon Labour Hire your granny flat is in great hands.
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