Australian House Sizes Dimish after GFC
Unpublished data collected by the Australian Bureau of Statistics documenting new house construction between 2001 and March this year show the rise and fall, or at least the expansion and the contraction, of the average Aussie new house.
In 2001 the average new home was 197sq m; by March 2009 new homes had swollen to 222sq m; but thereafter new homes recoiled (as if in horror) and contracted, and now sit at a modest 192sq m.
Like a bingeing dieter, middle Australia’s new home put on 25sq m, or more than 3sq m a year, in the lead-up to the GFC. Thereafter, the average new home shed unwanted space at a rate of 4sq m a year.
Australia, you are on a housing diet. Your houses are slimmer today than they were at the turn of the century. You are looking fantastic. How did you do it? Spurned the dreamy but creamy McMansion habit, did you? Trimmed the chunky but hunky home theatre now that family members are likelier to watch their own screens in their own space?
http://www.theaustralian.com.au/business/opinion/bernard-salt-demographer/australian-house-sizes-diminish-after-gfc-peak/news-story/572e608f79e416d5798764144b1a64e2
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