15/11/2013 - 15:59

Smaller budgets lead to smaller homes

15/11/2013 - 15:59

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Smaller budgets lead to smaller homes

The average floor area of new houses in Western Australia has fallen to 234.5 square metres, after peaking at 244.5sqm in 2009-10.

Research released earlier this week by the Australian Bureau of Statistics showed the average floor area of new homes in WA increased from 226sqm in 2000-01, to 244.5sqm in 2009-10.

The ABS said the average area of a new house across Australia increased from 227.5sqm to 241.1sqm between 2001-02 and 2012-13.

Nationally, average home sizes peaked in 2008-09 at 247.7sqm.

Over that same period, median prices for vacant land rose from $66,000 to around $197,000.

“As vacant land costs continue to increase, it is no wonder that the size of new houses has started to reduce,” RP Data research analyst Cameron Kusher said.

“The cost of buying or building a new house is becoming restrictive.

“In response, developers and builders are reducing lot and house sizes in order to provide houses at more affordable price points.”

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