CommSec analysis has shown that the average size of a new home is now the smallest it’s been in 20 years.
The average home size decreased year-on-year by 2.7 per cent to 189.8 square metres in 2016-17. The shrinking of Aussie homes has been attributed to an increased in apartment developments over free-standing dwellings.
However, when you compare free-standing house sizes across the globe, Aussie homes are comparatively still larger. Australian home sizes come in second place to those in the United States.
In Australia itself, Victoria sees the development of the biggest houses, followed by Western Australia and New South Wales.
Craig James, CommSec Chief Economist, attributed this shrinking in house sizing to the growing need for smaller homes, such as “apartments, semi-attached homes and town houses” in capital cities.
“As a result, the average home size continues to fall – now at 20-year lows.
“Generation Y, millennial couples and small families want to live closer to work, cafes, restaurants, shopping and airports and are giving up living space for better proximity to these desirable amenities.
“Despite Australia building on average some of the world’s biggest houses we are still getting topped by our US counterparts whose houses are larger by around 5 per cent.
“But the average house size isn’t reaching new highs, having peaked around six years ago. There are still McMansions being built, but there are fewer of them.
“In the past year, the average size of houses built in both South Australia and Western Australia has lifted.
“In fact, South Australia built the biggest homes in records going back 30 years. And on average Western Australian houses built in 2016-17 were just short of record highs for the state,” said Mr James.