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Love Thy Neighbour … posted on the 26th November 2014

 “In a recent article by Todd Hunter from wHeregroup, Todd discussed some of the goings on in Sydney regarding granny flat investments. We invite you to read Todd’s article “Love Thy Neighbour…” as he raises some concerns we think our audience should be aware of, and then we would like to address some of those concerns from Ipswich Granny Flats’ perspective.

In an article we wrote last year, we informed people that Ipswich City Council (ICC) is the first council in Queensland to now allow “Auxilliary Dwellings” or Granny Flats as they are more commonly called, for investment purposes ie. you can now rent them out to persons other than your immediate family. In fact Ipswich Granny Flats (a division of Vision Property Group Qld) were instrumental in building the first new house + Granny Flat for investment purposes under this relaxation to the planning scheme. View our case study of the process.

Like Todd, we have our finger on the pulse for the property market all over Australia, and have also seen the unfortunate events that have taken place in Western Sydney where “in some streets EVERY house has a granny flat. Turning low density areas into medium density areas with lower income earners.” And unfortunately for Ipswich whilst the changes to secondary dwelling regulations are still fairly new the “Sharks” as Todd calls them, have caught onto these investment opportunities. We too have seen some instances where wealth creation groups have built 15 to 20 new builds + granny flats in a row in some of the lower socio-economic suburbs.

Ipswich Granny Flats however, tend to stick to infill developments where there is a vacant block of land left over in an estate, or a good sized block that is conducive to a second dwelling in the backyard, insulating us and our clients to some degree to these practices.

There is a high percentage of older homes within the local Ipswich area, but many people looking for opportunities to rent newer style homes. They often don’t want a large yard – so the granny flat solution suits them perfectly. New house on a manageable block of land! Ipswich Granny Flats is now in a position where we have different prospective tenants ring us on a regular basis asking when and where the next granny flats will be built, as they are looking for just that – new house, smaller manageable yard! There is certainly demand there …

We encourage people to contact and talk to us direct about different options that may suit their own particular circumstances. We are currently working with a number of clients, all of whom we consider astute investors – that between us all are taking a collaborative approach, taking some considerable time to work out a good fit on the site, in sympathy with their surrounds for their granny flat projects. It may take a little longer to produce the final drawings etc – but it’s worth the effort for a great final result. And when we have a finished product, they are never vacant for very long …

From an investment point of view, 2014 is the year for Queensland so the experts are saying. And Ipswich is ripe for this type of investment for a number of reasons. As part of their Community or Social Planning, Ipswich City Council identified a need within the local area in response to changing demographics and taken a lead role in addressing the social impacts and issues associated with affordable housing. Auxiliary Dwellings or Granny Flats is one way of addressing the issue.

Sharks

And unfortunately the ‘Sharks’ as Todd calls them have come to the notice of Ipswich City Council, who now as a result of this, have this week have reduced the allowable size of a granny flat from 65m2 to 50m2 and one bedroom as a way of combating the issue!

Yes, there are a few (sharks) here in Queensland as well that have spoilt it for the rest of the nation !

 

IPSWICH GRANNY FLATS

SONIA – 0403 309 136

Written by Sonia Woolley