Spring has always been the season that reinvigorates our property markets.
It’s the time of year when listings surge, buyers come out in force, and competition intensifies.
But this year data shows that buyers aren’t just dreaming, they’re making practical trade-offs, influenced by affordability pressures, multigenerational living, and a desire for character and lifestyle.
Flexible living and rental income potential are reshaping the housing market this spring, with “granny flat” climbing the rankings across multiple cities, according to Domain’s This Spring’s Housing Buzz report.
In Perth, “granny flat” ranked second overall, just behind “pool.” Houses account for more than 81% of searches, with the typical three-bedroom house or townhouse at about $850,000, and units averaging closer to $600,000.
Across the capitals, Domain’s data indicates that the ability to house extended family, generate additional income, or create versatile living arrangements is no longer a niche concern. Demand for flexibility has now become a central part of the market.
Spending warm summer days in a pool is a lifestyle many aspire to, but as the housing affordability crisis worsens, would-be home buyers have a new preference for their backyard: a granny flat.
“I think it’s absolutely fascinating that you’ve now got granny flat as a number one search term … for as long as I can remember, pool has been that keyword that really dominates,” Domain’s head of research Nicola Powell says.
“I think it is affordability pressures. I think that buyers are increasingly looking for ways to offset a mortgage and a granny flat obviously provides a rental stream or dual income option,” Powell told the Financial Review.
Speak with our Business Development Manager, Amanda Leipold on 9592 8188 or AmandaL@summitrealty.com.au to discuss the suitability of a property for the addition of a granny flat.
Working hand in hand with the Summit Granny Flats' team, Amanda can help with the assessment of the technical aspects plus the potential rental income, ensuring a seamless approach all under the one Summit Homes Group roof.
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