TASMANIAN new homes stay the smallest within the nation, based on a report displaying Australia continues to construct the world’s largest homes.
The most recent CommSec Residence Measurement Report reveals the common new home inbuilt Australia in 2019-20 was 235.8 sq. metres, up 2.9 per cent on the earlier 12 months and the largest enhance in 11 years.
In distinction, US homes constructed over the 2019 calendar 12 months fell in dimension for the fourth 12 months, down 3 per cent to 233.1 sq. metres, based on information commissioned by CommSec from the Australian Bureau of Statistics.
The dimensions of the common new condo in Australia rose 6 per cent over the previous 12 months, hitting a decade-high of 136.8 sq. metres.
The CommSec Residence Measurement Tendencies report tracks residence dimension over time and particulars the common sizes of recent homes and residences constructed over the previous monetary 12 months.
The smallest new homes constructed had been in Tasmania, the place houses had been 179 sq. metres on common, up 0.3 per cent on 2018-19.
The ACT constructed the largest homes in Australia in 2019-20 at 256.3 sq m, forward of Victoria (250.3 sq m), NSW (235 sq m) and Western Australia (232.5 sq m).
CommSec chief economist Craig James mentioned earlier than final 12 months, Australian residence consumers had been constructing progressively smaller homes on common, embracing residences in addition to smaller homes on smaller lot sizes.
“So whereas Aussies constructed larger houses over the previous 12 months, the large query is whether or not the decade-long downtrend in residence dimension has ended. And COVID-19 might play a giant position in answering that query,” Mr James mentioned.
“Authorities-imposed lockdowns in response to the COVID-19 virus have prompted extra Aussies to reassess their housing wants. With extra time spent at residence for each leisure and work, some Aussies are in search of larger houses.”