Melbourne, Nov 30 (ANI): Aussies have beaten the Americans to become the owners of the largest houses in the world, says a new report by Commonwealth Securities, also known as CommSec.
The CommSec data shows that the size of an Australian house has increased on average by 10percent in the last ten years to a record new high of 214sq m, which almost thrice the size of the average British house.
However, another report from BIS Shrapnel has predicted the constant shooting up of rents with a rise of 5 percent annually in Brisbane between 2010 and 2012 and similar levels in other capitals, reports the Courier-Mail.
CommSec statistics show that the size of families is also growing with the increase in house size with 2.56 people living in each household from the previous figure of 2.51.
In fact, this is the first such rise in at least 100 years.
New South Wales boasts of the biggest houses in Australia with an average house built in 2008-09 measuring 262.9sq m.
Queensland takes the second spot with 253sq m.
"The increase in the size of the average family unit may mean that fewer new homes need to be built," News.com.au quoted CommSec's Craig James, as saying.
"It makes sense. Population is rising, as is the cost of housing and the cost of moving house, so we are making greater use of what we've got.
"Children are living at home longer with parents and more people are opting for shared accommodation."
James added: "If the size of the average household continues to rise, there will be reduced demand for new houses and apartments," Mr James said.
"It is questionable whether Aussie homes can, or indeed should, continue to grow.
"Generation Y is already baulking at the cost of housing, choosing to stay at home longer with parents." (ANI)