 Australia boasts large homes
A new study has found that Australia now has the world's largest houses, overtaking the US. Alongside this trend, rents are also rising.
CommSec commissioned the data to be compiled and found that the average Australian house has grown 10 per cent in the past decade. Our houses now currently boast a record high of 214sqm, which is trebble the size of the average British house.
While houses may be getting bigger, so are the families with the number of people occupying each household rising from 2.51 to 2.56, which is the first rise for 100 years.
BIS Shrapnel also commissed research recently, which found that rents are set to continue to rise at 5 per cent each year in Brisbane, with similar increases in other capital cities. They estimate that landlords would pocket an extra $2 billion nationally during the period. "The increase in the size of the average family unit may mean that fewer new homes need to be built," CommSec's Craig James said.
"It makes sense. Population is rising, as is the cost of housing and the cost of moving house, so we are making greater use of what we've got.
"Children are living at home longer with parents and more people are opting for shared accommodation."
NSW can boast the biggest houses in Australia and by a large margin. The size of the average new house built in NSW in 2008-09 was 262.9sq m, followed by Queensland 253sq m.
The debate over housing, whether to keep building new houses or not, rages on. Younger homebuyers are questioning the cost of housing and choosing to stay at home longer. Less demand for housing could affect prices.
However weekend auction clearance rates were still strong and across capital cities clearance rates were rising.
Around the world, house sizes were recorded, and within Europe Denmark has the biggest homes with an average floor area of 137sq m, followed by Greece (126sq m), and the Netherlands (115.5sq m).
Homes in the UK are the smallest in Europe at 76sq m.
With the first home owners grant boost due to come to a complete end on December 31, the property industry is watching closely to see if there is a last minute rush, and what will happen in early 2010.
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