 Larger homes, fewer people
Some interesting observations in recent housing trends have just been published. Census figures from the Australian Bureau of Statistics has found that the number of residents per household is shrinking, and homeowners are leaning towards larger home.
From 1911 to 2006 the number of occupants per home dropped from 4.5 to 2.5. The trends are being attributed to years of rising incomes and low unemployment, along with changing lifestyles. But concern is growing over the sustainability of Australia's residential development.
"This trend has implications for the ongoing stability of residential development in Australia: declining household size accelerates the demand for new housing development, while growth in excess bedrooms indicates less efficient use of housing, both of these factors increase the demand for resources and energy," the 'A Picture of the Nation' report says.
The report shows that the average floor area of new homes grew by almost one third in the 20 years to 2006-07 and the number of dwellings with four or more bedrooms grew from 15 to 28 per cent from 1986 to 2006.
Median monthly home loan repayments grew in real terms from $459 in 1976 to $1,300 in 2006.
However, the rate of home ownership in 2006 was about 70 per cent and has remained stable over the past 40 years.
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