In 2019/20, the average new house built in Australia measured a massive 236m2. This represents 2.9% growth on the year before, and represents the biggest increase in home size in 11 years.
CommSec’s recent report into home size trends shows Australian houses are now being built bigger than anywhere else in the world.
In fact, we just reclaimed the number one spot from the US.
Apartment sizes in Australia have grown too, with the average new apartment increasing 6% in the last year to hit a decade high of 137m2.
Have Aussie homes always been this big?
It’s important to note that new houses aren’t the biggest they’ve ever been. In fact, over the last few years Aussies have been building progressively smaller homes on average.
Despite the average new house size shrinking throughout the majority of the 2010s, new houses are still a whopping 27% bigger than they were 30 years ago.
“Over the past year there appears to have been a perception that Australian homes had shrunk a little too much,” explains CommSec chief economist Craig James.
So what’s next for Australian houses?
There have been numerous shifting trends in terms of house sizes and styles over the past decade, and COVID-19 is sure to throw another element into the mix.
More people could embrace working from home – opting to move away from apartments in, or near, the CBD in preference for larger homes in regional or suburban areas.
Another factor that could increase the size of new homes over the year to come is the federal government’s $25,000 HomeBuilder grant.
The federal government scheme aims to assist owner-occupiers (including first home buyers) who want to buy a new home, or begin work on eligible renovations, by providing them with a $25,000 grant.
If you’d like to explore your options with regards to building your own home, please get in touch with our team here.
