Apartments now make up 46 per cent of all new homes constructed, in comparison with eight years in the past once they accounted for 27 per cent of latest builds.
But Australians have additionally merely been extra prepared to inhibit smaller areas since the measurement of homes peaked in 2009, Mr James stated.
“We can point to a lot of things, like the global financial crisis, as being a change in people’s mentality,” he stated. “People are wanting to live more simply.”
More individuals are additionally prepared to commerce area for being nearer to the metropolis, Mr James stated.
“You’ve got Baby Boomers, as well as Millennials and Gen Y, which have got this preference for smaller accommodation, perhaps closer to city centres, whether it’s regional cities or whether it’s capital cities,” he stated.
“Therefore, less travel time, closer perhaps to people’s workplace, closer to things like cafes and restaurants.”
Despite the development, Australia nonetheless has the second-largest homes of any nation, behind the United States.
“The house that we’re building in Australia are still amongst some of the biggest houses in the world, and I suppose that gets down to the fact that we do have more land mass here,” Mr James stated.
The common free-standing house in Australia was 230.eight sq. metres in 2017-18, which was zero.9 per cent smaller than the yr earlier than.
But that measurement continues to be eight per cent greater than homes constructed 20 years in the past, and virtually 30 per cent greater than these constructed 30 years in the past.
“There’s certainly fewer McMansions being built because if we were seeing more of those, we’d see the house size increasing rather than decreasing,” Mr James stated.