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Source: The Daily Telegraph
There’s a growing trend in Sydney with homeowners building second properties in their gardens. In fact everything from veggie patches to car ports are being redeveloped by canny property owners who are cashing in on building granny flats. The NSW planners are being inundated by applications for building projects of this kind; they soared to 4,818 last year from 2,867 in 2013. Malcolm Gunning of the Real Estate Institute of NSW said that homeowners are using equity from their properties after the surge in prices to fund the granny flats. Rental return on the newly build garden apartments can be around 15 per cent.
Source: The Daily Telegraph
What To Know When Buying A House?
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