Legislative changes, house price and rental demand increases, in conjunction with a housing affordability crisis, have apparently prompted the creation of Granny Flat Finder, a tech start-up that is filling the niche of granny flat developments.
Ever since the changes in New South Wales allowed investors to achieve dual income by building a granny flat on applicable blocks, there has been substantial interest in the strategy. Most recently, ACT has updated their legislation, allowing granny flats to be larger and more appropriate as rentals.
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Since trading in December 2013, Granny Flat Finder, a marketplace for investors to locate builders and designs, has listed over 50 builders covering 15% of the market, and is receiving 1,200 views per day.
Director of Granny Flat Finder Pty Ltd, Jay Wright, built the site to task all the hassle out of options and the complicated laws and processes.
“[Our] research had suggested this was a growing market, however the demand has been unprecedented. This week alone we have had over 100 enquiries submitted to builders through the website from customers looking to have a granny flat built,” said Wright.
Designs can be filtered in terms of one, two and three bedroom designs, and builders have online profiles in a classified-style collection.
The website also provides white papers, guides, tips and legislation.
The January report of the site saw 3,000 views on Granny Flat Finder, 16,000 views of designs and builder profiles and 217 customers enquiring.
For your interest: Four pros and cons of building a granny flat
This article first appeared on Property Observer.