Granny flats becoming increasingly desirable Ballina investments: HTW residential

Granny flats becoming increasingly desirable Ballina investments: HTW residential
Granny flats becoming increasingly desirable Ballina investments: HTW residential

Yields throughout the Ballina Shire are generally expected to be lower than those in the less sought after areas of the Northern Rivers, according to the latest Herron Todd White (HTW) residential report. 

This can be attributed to higher median property prices.

The valuation firm took a look at the rental yields across the country to dissect where to find the best returns in residential markets. 

"This becomes more pronounced when you get into the more sought after areas of the Ballina Shire such as the coastal areas of Lennox Head and East Ballina and the desirable rural localities in the north of the Shire such as Newrybar, Knockrow and Tintenbar," the valuation firm said. 

"Whilst yields are low, rental demand remains strong.

"The addition of a detached studio or granny flat or dual occupancy style accommodation is becoming an increasingly desirable proposition within sought after areas of the Ballina Shire.

"This is perhaps most evident within the new Epiq estate at Lennox Head with a significant percentage of new builds having some form of dual occupancy style accommodation."

A basic one-to-two bedroom studio or granny flat detached from the main residence would be expected to achieve between $350 and $475 per week.

This is an attractive return compared to a basic three-bedroom residence in Lennox Head or East Ballina which is worth say between $700,000 and $750,000 and would only be expected to achieve between $500 and $600 per week rent, HTW said. 

Tags: 
Rental Yield Ballina

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