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Australia’s average house size shrinks to 20-year low

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Australian house sizes have shrunk to a 20-year low, according to new data from CommSec and the Australian Bureau of Statistics (ABS).

The decrease is due to the increasing number of Australians who are living in apartments.

In 2016/2017 the average new homes size dropped to 189.8 square meters, down 2.7% over 2015/2016, and the smallest they have been since 1997.

“We’ve got greater consolidation occurring, there’s more units, apartments and semi-detached dwellings, with people wanting to live closer to capital city centres,” Commsec Chief Economist Craig James said.

But freestanding Aussie houses are still among the world’s biggest, the data shows.

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The average freestanding house being built today is 30% larger than 30 years ago, at 233.3 square metres. It also has double the number of bedrooms from 20 years ago.

Freestanding houses account for 72% of all homes in Australia.

James added that Gen Y and Millennial Australians are less likely to invest in large houses.

This may be due to upkeep but could also have a lot to do with the sky-high housing prices young Australians are facing.

James also pointed to Baby Boomers downsizing as being a factor in the shrink in average home size.

Source: News.com.au

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