'Your house is worth more than you think': The little-known property trick that can add $100,000s to your home
- Homeowners can now divide their homes into two under new planning laws
- Laws have been relaxed to cater for a growing population in Perth, WA
- Residents of corner properties can split homes in two if both have road access
Homeowners can now boost their property value with a little known development hack.
Under recent changes to planning laws, residents can now split their homes into two if they live on a corner as long as both properties have access to the road.
It means that one property essentially becomes two homes - boosting the overall value by hundreds of thousands of dollars.
Unfortunately the development opportunity is only available in Perth, WA, which relaxed its subdivision laws two years ago to cater for a rising population.
Strategic Property Group managing director Trent Fleskens said the change was great news for those who living in corner properties.
'Your property should now be worth much more than your neighbour who still can't subdivide,' Mr Fleskens told Daily Mail Australia.
'Most corner lot home owners aren’t aware that they could be sitting on a development bonanza.'
Strategic Property Group managing director Trent Fleskens said the change was great news for those who living in corner properties
Warwick residents Cliff and Kaylene Mullins have decided to take advantage of the relaxed rules.
They are splitting their corner property into two.
'Being the corner we can break this into two 350sqm blocks and we'll put two 4x2's on it,' Kaylene told Nine News.
'We will probably save both of them for rentals. We will get our money back and use it as seed money to do another development and still have equity left in this.'
Warwick residents Cliff and Kaylene Mullins (pictured) have decided to take advantage of the relaxed rules
But that's easier said than done.
Corner lot owners need to fulfill certain conditions before splitting their properties.
For example, their lot must front more than one road (excluding a regional road) or has dedicated road access or right-of-way access to both front and rear boundaries.
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Mr Fleskens said the Development Control Policy 2.2 determines that a block with frontage of two streets can be subdivided to the minimum area requirements rather than the average.
'Hence, an R20 block not on a corner still needs to be 900sqm to be split in two,' he said.
'However, corner blocks as small as 700sqm can now be split in two.'
Strategic Property Group managing director Trent Fleskens (pictured) said the relaxed laws will benefit landowners in areas such as Hamersley, Warwick, Carine, Karrinyup, Riverton Shelley, and Mount Pleasant
'Or if you own a 1000sqm corner lot in an area zoned R17.5, you can now subdivide that into two 500sqm lots, whereas previously you couldn’t due to the 571sqm site average criteria.
A R20 blocks means, a developer can only have up to 20 dwellings per hectare of land.
Mr Fleskens said the policy will benefit landowners in suburbs such as Hamersley, Warwick, Carine, Karrinyup, Riverton Shelley, and Mount Pleasant.
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