Jenny Brown from Domain writes that with kids living at home longer (or returning home), higher property prices and stamp duty deterring families from moving to larger homes, “creating attic level accommodation is becoming quite the thing to do.”
“The kidults won’t move out, or have returned to the nest because life out there is unaffordable.
“The aging parents are moving in displacing children who legitimately still rely on you to provide a roof over their heads. And because the old folks need the ground floor, the kids with the sound knees can move up a level or two.
“You dream of more room but daren’t sell your property because you fear you’ll never replace it in your favoured neighbourhood. And stamp duty seems such a silly thing to throw good money at.
“The number of people relocating is diminishing – down from 5.2 per cent in 2015 to 4.5 per cent in 2016 – and ever more are opting to stay put and renovate.”