Owners of properties geared for dual or multi-generational living are set to benefit from a growth in demand for this type of asset.
A combination of rising living costs, elevated interest rates and a lack of available housing, particularly in sought after beachside locations, is leading more people to join forces with family and friends to buy property.
Pooling resources enables buyers to gain access to markets where, as individuals, house prices may be unaffordable, particularly following the pandemic market highs.
The Federal Govenmernt last week acknowledged a need for this type of co-ownership with the announcement that from July 1 it will expand its Home Guarantee Scheme to allow any two people to purchase a home together with as little as a 5 per cent deposit.
While a growing number of friends and family are choosing to become co-owners, most prefer to retain a certain level of independence, space and privacy.
As a result, these altered living arrangements are pushing buyers towards properties that offer self-contained or separate living quarters, or those allowing dual occupancy or multi-generational living.
