<p>Construction is set to begin at <a href="https://www.apartments.com.au/new-townhouses/orchard-mews-glen-iris-18-scott-grove-glen-iris-vic-3146">Orchard Mews</a> in Glen Iris, with&nbsp;PC Whitehall &amp; Sons&nbsp;now appointed as the townhome development moves into its next phase.</p>

<p>The development by&nbsp;<a href="https://www.apartments.com.au/developers/montcoeur">MontCoeur</a>,&nbsp;located at 18 Scott Grove, is now around 30 per cent sold, with completion targeted for late-2027.</p>

<p>Orchard Mews comprises a curated collection of three- and four-bedroom customisable townhomes, positioned within one of <a href="https://www.apartments.com.au/developments/glen-iris-vic-3146">Glen Iris</a>’ more tightly held residential streets. The low-density project has been designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, bringing together a team known for high-end residential projects across Melbourne.</p>

<p>[smartcode_project:default project_id=150128 project_image_fid=366285]</p>

<p>The development is defined by its focus on flexible living and long-term usability. Each residence includes multiple living zones and a customisable multipurpose room, allowing buyers to tailor spaces to suit changing needs, whether as a home office, additional bedroom, wellness area or entertainment space.</p>

<p>Architecturally, the townhomes emphasise natural light and spatial volume, with dual-aspect layouts and double-height living areas incorporated into the design. Interiors feature natural stone benchtops, premium appliances, and a neutral material palette intended to support everyday functionality rather than statement-driven finishes.</p>

<p>All residences are all-electric and include private lifts and secure double garages, reflecting a broader shift toward sustainability and future-focused housing in Melbourne’s established suburbs.</p>

<p>[smartcode_project:default project_id=150128 project_image_fid=366277]</p>

<p>Outdoor connections are also central to the offering, with a mix of private courtyards and terraces extending internal living spaces and integrating with the landscaped surrounds.</p>

<p>The Scott Grove address places Orchard Mews within close proximity to some of Melbourne’s key lifestyle and education amenities, including Scotch College, Sacré Cœur, Cabrini Hospital and the retail hub of Chadstone. Public transport access is also nearby, with trams and Gardiner Station providing connectivity to the CBD and surrounding suburbs.</p>

<p>[smartcode_project_cta:default project_id=150128]</p>


Joel Robinson

Construction to commence at luxury Glen Iris townhome project, Orchard Mews

<p data-end="150" data-start="66">A rare new apartment development has been proposed on the fringe of St Ives Village.</p>

<p data-end="370" data-start="152">Developer Newquest Property has lodged plans for a low-rise apartment project designed by well-regarded architecture firm Warren &amp; Mahoney, which is best known for its work in the multi-residential sector in Melbourne.</p>

<p data-end="370" data-start="152">The building, proposed for a 1,916 sqm site on <a href="https://www.apartments.com.au/new-apartments/st-ives-residences-3-5-memorial-avenue-nsw-2075">Memorial Avenue</a> opposite St Ives Village Green, has been designed to blend into the surrounding natural environment.</p>

<p data-end="370" data-start="152"><img alt="St Ives" data-entity-type="file" data-entity-uuid="5c1c7437-2fba-4345-a6d7-05321714ad3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.28.46%E2%80%AFPM.png?VersionId=KrYyMaJvNqR7vbx0xbB3Ef8sJ6FuHpmn" /></p>

<p data-end="745" data-start="537">“Drawing inspiration from the pale trunks and flowering canopies of the scribbly gums and blue gums prevalent in the area, a considered material palette was developed,” the architectural design report states.</p>

<p data-end="912" data-start="747">“This palette references the established materiality of the suburb while elevating it through refined finishes to achieve a more luxurious architectural expression.”</p>

<p data-end="1185" data-start="914">Of the 33 apartments proposed, 21 will be three-bedroom residences. The remaining mix includes nine two-bedroom apartments, one one-bedroom apartment and two four-bedroom residences. The development will be supported by 62 car parking spaces and 33 secure bicycle spaces.</p>

<p data-end="1270" data-start="1187">The proposal would replace two single-storey brick buildings currently on the site.</p>

<p data-end="1270" data-start="1187"><img alt="St Ives" data-entity-type="file" data-entity-uuid="21422eaf-09a9-4439-9278-b9bd9daf22a1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.38.10%E2%80%AFPM.png?VersionId=v.fXSgcUcEscvOZzqcjG5nk3gVqk_Amt" /></p>

<p data-end="1467" data-start="1272">St Ives remains a relatively untapped market for new apartment development. North Shore developer WINIM has a number of projects in the area, while INCA is nearing completion of Ellis Residences.</p>

<p data-end="1635" data-start="1469">More recently, Traders In Purple has lodged plans for one of the denser projects proposed in the suburb, a 75-apartment development on a 5,900 sqm site on Cowan Road.</p>

<p data-end="1635" data-start="1469">NewQuest, a construction, design and development firm, has delivered over 24 projects across commercial, residential, industrial, and lad markets.&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


First look: NewQuest Property proposes new St Ives apartment development

<p><a href="https://www.apartments.com.au/developers/centa-property-group">Centa Property Group</a> has achieved two major milestones at its <a href="https://www.apartments.com.au/new-apartments/bilinga-house-107-golden-four-drive-bilinga-qld-4225">Bilinga House</a> apartment development in the sought-after southern Gold Coast.</p>

<p>They've almost sold 50 per cent of the Golden Four Drive building, while at the same time announcing the commencement of construction through reputable builder Greyburn Construction.</p>

<p>The boutique 10-storey building, with 47 two- and three-bedroom apartments, now has a mid-to-late 2028 completion date.</p>

<p>[smartcode_project:default project_id=150037 project_image_fid=5333]</p>

<p>The <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed project is positioned just 200 metres from Bilinga Beach and brings a relatively rare apartment offering to a market that has seen limited new supply in recent years.</p>

<p>Residences have been designed to maximise natural light and ventilation, with open-plan interiors, generous glazing, and material palettes that reflect the surrounding coastal landscape.</p>

<p>Interiors incorporate engineered timber flooring, stone benchtops, and custom joinery, with layouts designed to adapt to both permanent living and lock-and-leave use.</p>

<p>[smartcode_project:default project_id=150037 project_image_fid=5336]</p>

<p>Rothelowman Senior Project Leader Matthew Tencate said the design approach centres on liveability and community.</p>

<p>“Providing curated on-site amenities and communal spaces for residents that facilitate a sense of community, liveability, and wellness,” Tencate said.</p>

<p>Residents will have access to a suite of private amenities including a pool, gym, sauna, and communal alfresco areas, alongside practical features such as surfboard storage and bicycle facilities.</p>

<p>[smartcode_project:default project_id=150037 project_image_fid=5336]</p>

<p>Centa Property Group Director Jason Yuen said the project has been designed to appeal to a range of buyers seeking flexibility in how they use their property.</p>

<p>“Bilinga House is designed for those who want the best of both worlds – a modern beachside escape with the flexibility to generate income when you're not there,” Yuen said.</p>

<p>[smartcode_project:default project_id=150037 project_image_fid=5338]</p>

<p>Bilinga remains one of the quieter pockets of the Gold Coast, sitting between the more established hubs of Coolangatta and Palm Beach. Its appeal has strengthened in recent years, supported by proximity to the Gold Coast Airport and the Oceanway coastal path.</p>

<p>[smartcode_project_cta:default project_id=150037]</p>


Bilinga House apartments snapped up as Greyburn commences construction

<p>Breaking into the Sydney property market has long felt out of reach for many first home buyers, particularly as median house prices sit above $1.6 million and unit prices push beyond $900,000.</p>

<p>But entry points still exist in pockets of Greater Western Sydney, where pricing, government incentives, and product mix are aligning to make ownership more attainable.</p>

<p>Understanding where those opportunities sit, and how the numbers actually stack up, is becoming increasingly important for buyers weighing up their next move.</p>

<h2>Work out what you can actually afford</h2>

<p>Sydney is expensive, but it isn’t uniformly expensive. The Greater Parramatta region continues to offer comparatively accessible entry points, particularly for buyers open to alternative configurations like studios.</p>

<p>There's an assumption that a first home needs to be a certain size, that anything smaller than a one-bedder is a concession rather than a choice. That assumption doesn't hold up against what well-designed studios in the right location actually offer: immediate liveability, strong urban amenity, and a price point that makes the deposit target realistic rather than theoretical.</p>

<p>At <a href="https://www.apartments.com.au/buildings/mason-main-merrylands-249-259-merrylands-road-merrylands-nsw-2160">Mason &amp; Main</a>, <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>'s multi-award winning precinct in Merrylands, studio apartments are unlike the typical studio configuration.</p>

<p>Starting from $498,000, the bedroom is fully enclosed, separated from the living area by a cavity sliding door, creating a genuinely private sleeping space that functions more like a one-bedroom apartment than a traditional open-plan studio.</p>

<p>[smartcode_project:default project_id=31751 project_image_fid=359814]</p>

<p>At 42 sqm internally, with an open-plan kitchen, built-in robes, modern bathroom, and separate laundry, the apartments are designed for everyday liveability rather than short-term use.</p>

<p>With a five per cent deposit under the Federal Government's First Home Guarantee, that equates to a deposit of around $24,200, achievable for many first home buyers without the added cost of Lenders Mortgage Insurance.</p>

<h2>Understand the real cost of renting versus buying</h2>

<p>For buyers weighing up the shift from renting to owning, the numbers are closer than many expect.</p>

<p>Here’s how the numbers stack up for a studio at Mason &amp; Main (based on a $498,000 purchase):</p>

<ul>
	<li><strong>Purchase price:</strong> $498,000</li>
	<li><strong>Five per cent deposit (First Home Guarantee):</strong> ~$24,900</li>
	<li><strong>Loan amount:</strong> ~$473,100</li>
	<li><strong>Estimated mortgage repayment (6.29% variable, 30-year term):</strong> ~$675–$695/week*</li>
	<li><strong>Estimated rental return:</strong> $590–$620/week*</li>
	<li><strong>Rental yield:</strong> 6.16% - 6.47%</li>
</ul>

<p>At this level, the gap between renting and owning is relatively narrow, particularly when factoring in long-term equity, with rental returns also making the apartments a viable option for investors.</p>

<p>The rental range reflects current asking rents for remaining studio stock in the development and, based on prevailing asking prices, equates to an indicative gross rental yield of up to 6.47 per cent.</p>

<p>For buyers seeking more internal space, Mason &amp; Main also offers a range of one-bedroom apartments from $629,000, alongside larger one-bedroom plus multipurpose room configurations priced from $680,000 - all priced under $800,000 and eligible for first home buyer incentives.</p>

<ul>
	<li><strong>Purchase price:</strong> $629,000</li>
	<li><strong>20 per cent deposit:</strong> ~$125,800 (5% deposit on exchange: $31,450)</li>
	<li><strong>Loan amount 80%:</strong> ~$503,200</li>
	<li><strong>Estimated mortgage repayment:</strong> ~$720–$740/week*</li>
	<li><strong>Estimated rental return:</strong> $650–$680/week*</li>
	<li><strong>Rental yield:</strong>&nbsp;5.37% - 5.62%</li>
</ul>

<p>One-bedroom apartments continue to present a balanced option for both owner-occupiers and investors, supported by steady rental demand across Western Sydney.<span style="font-size:small"><span style="color:#222222"><span style="font-family:Arial, Helvetica, sans-serif"><span style="font-style:normal"><span style="font-variant-ligatures:normal"><span style="font-weight:400"><span style="white-space:normal"><span style="background-color:#ffffff"><span style="text-decoration-thickness:initial"><span style="text-decoration-style:initial"><span style="text-decoration-color:initial">&nbsp;</span></span></span></span></span></span></span></span></span></span></span></p>

<p>[smartcode_project:default project_id=31751 project_image_fid=359812]</p>

<h2>Make sure you're across the government incentives</h2>

<p>Government incentives continue to play a key role in reducing the upfront cost barrier.</p>

<p>At Mason &amp; Main, studio, one, and two-bedroom apartments are priced under $800,000, allowing eligible buyers to access a full stamp duty exemption under the NSW First Home Buyers Assistance Scheme.</p>

<p>On a $498,000 purchase, that represents a saving of roughly $17,900 that would otherwise need to be paid at settlement.</p>

<p>Combined with the First Home Guarantee, which enables purchases with as little as a five per cent deposit, the total capital required to secure a home is significantly reduced compared to traditional lending pathways.</p>

<h2>No waiting, no uncertainty</h2>

<p>For first home buyers who want to move sooner rather than later, Mason &amp; Main removes one of the more common pain points from the purchase process entirely. The development is already complete and move-in ready, meaning buyers can walk through the apartments, inspect the finishes, and have full certainty about what they're purchasing before signing anything.</p>

<p>Coronation brought in renowned architecture firm <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> to design the development.&nbsp;</p>

<p>"The project's design drew inspiration from the area's rich heritage, in particular the nearby brickworks and aqueduct, infusing a contemporary perspective to seamlessly integrate historical influences into the design," Woods Bagot Principal Dom Alvaro says.</p>

<p>[smartcode_project:default project_id=31751 project_image_fid=736]</p>

<h2>Factor in location and lifestyle</h2>

<p>Beyond the apartment itself, the surrounding infrastructure matters, particularly for a first purchase. Merrylands Station sits 350 metres from the development, putting the Parramatta CBD a five-minute drive away and the Sydney CBD roughly 25 minutes via the Western Line. Directly across the road is Stockland <a href="https://www.apartments.com.au/developments/merrylands-nsw-2160">Merrylands</a>, one of Greater Western Sydney's major retail centres.</p>

<p>At street level, Mason &amp; Main's own retail and dining precinct has more than 30 tenants trading, including Iftar, Macelleria, Hayat, San Churro, Yuzu, and Fat Jaks. Residents also have access to a resort-style pool, a Technogym-equipped gym, private dining rooms, and a rooftop terrace with panoramic views across Parramatta, the Sydney CBD, and the Blue Mountains, all exclusive to the building.</p>

<p>Due to the mix of configurations, including studios which are rarely offered in today's new apartment market, first home buyers and investors have driven Mason &amp; Main to over 90 per cent sold.</p>

<p>Coronation Property Managing Director Joe Nahas says the development is driving a revitalisation of Merrylands, setting a high standard for future developments in the area.</p>

<p>Mason &amp; Main is move-in ready and is the latest in a series of award-winning mixed-use developments by Coronation Property.</p>

<p><em>Disclaimer: Mortgage repayment figures are estimates only, based on a 6.29 per cent variable rate over a 30-year term (Canstar, April 2026). Pricing and rental estimates are indicative and based on current listings and project information. Gross yield figures are indicative and derived from asking prices and estimated rental ranges. Stamp duty savings are indicative only. Buyers should seek independent financial and legal advice before proceeding.</em></p>

<p>[smartcode_project_cta:default project_id=31751]</p>


How first home buyers can enter the Sydney property market for under $500k

<p data-end="390" data-start="110">Australia’s housing debate has rarely been more urgent. The National Housing Supply and Affordability Council forecasts the country could fall around 262,000 homes short of housing needs by 2029, underscoring the scale of the challenge facing planners, governments and developers.</p>

<p data-end="514" data-start="392">In response, much of the conversation has centred on high-density towers around transport corridors and strategic centres.</p>

<p data-end="676" data-start="516">Diversified developer Coronation Property, while also focused on well-located, strategic sites, is incorporating an arguably underutilised typology, the terrace.</p>

<p data-end="983" data-start="678">Difficult to integrate into true high-rise developments, terraces have become a defining feature of Coronation’s lower-rise portfolio, including projects in Ashbury and Erskineville. <a href="https://www.apartments.com.au/buildings/ashbury-terraces-165-171-milton-street-ashbury-nsw-2193">Ashbury Terraces</a> places a stronger emphasis on this housing type, forming part of a broader community mix.</p>

<p data-end="1188" data-start="985">At its Erskineville development, <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, terraces are more limited, with just a handful&nbsp;included within the wider, predominantly apartment-led precinct, one of the first developments to launch in Erskineville in several years.</p>

<p data-end="1188" data-start="985">[smartcode_project:default project_id=135149 project_image_fid=368392]</p>

<p data-end="1524" data-start="1190">Terrace residents at Lillian benefit from many of the same advantages as apartment owners, the lock-up-and-leave lifestyle and access to shared amenities like the rooftop wellness space, but with significantly more space.</p>

<p data-end="1524" data-start="1190">Spanning multiple levels, the terraces also feature front and rear courtyards, providing direct access to the central landscaped gardens within the precinct.</p>

<h3 data-end="212" data-section-id="1n97jye" data-start="191">The terrace model</h3>

<p data-end="464" data-start="214">Terrace housing has long been part of Australia’s urban fabric. From Paddington and Surry Hills to Glebe and Annandale, rows of terrace homes have shaped neighbourhood streets, offering a housing form that sits between detached houses and apartments.</p>

<p data-end="631" data-start="466">The contemporary terrace, however, addresses many of the limitations of older designs, where narrow staircases and constrained layouts often compromised liveability.</p>

<p data-end="703" data-start="633">[smartcode_project:default project_id=135149 project_image_fid=368157]</p>

<p data-end="834" data-start="705">“Terraces represent one of the city’s most intelligent housing models,” says Joe Nahas, Managing Director of Coronation Property.</p>

<p data-end="1085" data-start="836">“They deliver density without losing the human scale that makes neighbourhoods liveable. In many ways, they provide a bridge between the Sydney we know and the Sydney we need to build. If Sydney is going to grow well, it can’t rely on towers alone.”</p>

<hr data-end="1090" data-start="1087" />
<h3 data-end="1124" data-section-id="1a7l0gw" data-start="1092">The evolution of the terrace</h3>

<p data-end="1262" data-start="1126">That thinking has shaped Coronation’s approach at Ashbury Terraces, where the terrace typology has been reinterpreted for modern living.</p>

<p data-end="1459" data-start="1264">Designed by SJB, the project recently received recognition at the 2026 Better Future World Design Awards, acknowledging its architectural clarity and response to the surrounding suburban context.</p>

<p data-end="1564" data-start="1461">SJB Director Adam Haddow says the intent was to evolve a familiar housing form rather than reinvent it.</p>

<p data-end="1723" data-start="1566">“The terrace is one of Sydney’s most familiar housing forms, so our approach at Ashbury was to reinterpret that typology in a contemporary way,” Haddow says.</p>

<p data-end="1888" data-start="1725">“The homes are designed to sit comfortably within the existing neighbourhood while introducing more light, landscape and shared spaces that support modern living.”</p>

<p data-end="2082" data-start="1890">Ashbury Terraces combines terraces, apartments and penthouses across a series of low-rise buildings, integrating contemporary architecture with landscaped communal spaces and resident amenity.</p>

<p data-end="2264" data-start="2084">That same typology is now being carried into Coronation’s Lillian development in Erskineville, where a smaller number of terraces sit within a predominantly apartment-led precinct.</p>

<hr data-end="2269" data-start="2266" />
<h3 data-end="2289" data-section-id="cazuws" data-start="2271">Buyer response</h3>

<p data-end="2486" data-start="2291">Coronation’s decision to include terraces at Lillian was informed by strong buyer feedback from Ashbury Terraces, where purchasers were drawn to the flexibility and scale the housing type offers.</p>

<p data-end="2588" data-start="2488">One resident, Sweta Pursem, purchased a terrace as a single buyer, citing its long-term versatility.</p>

<p data-end="2720" data-start="2590">“As a single buyer, it might seem surprising that I chose a terrace over an apartment, but I was thinking long term,” Pursem says.</p>

<p data-end="2851" data-start="2722">“The terraces are incredibly versatile, catering to a range of lifestyles while still offering the space and privacy of a house.”</p>

<p data-end="2962" data-start="2853">For Pursem, the multi-level layout provides a level of functionality not typically found in apartment living.</p>

<p data-end="3202" data-start="2964">“Having a separate living area from the bedroom and home office makes everyday living feel both functional and comfortable. When friends and family come to visit, the layout gives a sense of privacy while still feeling open and spacious.”</p>

<p data-end="3279" data-start="3204">Her terrace also supports a more connected, lifestyle-driven way of living.</p>

<p data-end="3537" data-start="3281">“I love entertaining, and the courtyard is ideal for relaxed weekend drinks with friends. I tend to use each level differently throughout the day, it creates a natural rhythm between work, downtime and entertaining, which I didn’t have in apartment living.”</p>

<p data-end="3692" data-start="3539">Ashbury Terraces is now complete and ready to move in, while Lillian in Erskineville is under construction and expected to welcome residents in mid-2027.</p>


Coronation champions terraces as a key piece of Sydney’s housing mix

Home Size

<html><body>
<p><span style="font-size: 12.16px;">EXPERT OBSERVER</span></p>
<p><span style="font-size: 12.16px;">Seven years ago, Aussies were building the biggest detached (free-standing) houses in the world. But in the period since, Aussie home buyers have embraced apartments as well as smaller houses on smaller lot sizes. </span></p>
<p><span style="font-size: 12.16px;">There are still McMansions being built, but there are fewer of them. Now houses being built in the US are the biggest in the world, around 5 per cent bigger than in Australia.</span></p>
<p>Only 21 per cent of ACT dwellings in 2018/19 were houses. But those houses averaged 251 square metres – the biggest in Australia. Victorian houses built last year were 246m² - the biggest in seven years.</p>
<p><span style="font-size: 12.16px;">The average house built in Tasmania in 2018/19 was the smallest in 23 years and at 21-year lows in Queensland. On average, NSW apartments built in 2018/19 were the smallest in 20 years of records.</span></p>
<p><span style="font-size: 12.16px;">Houses built in Australia over the past year are still far bigger than those built in the 1980s and 1990s. In fact houses are around 5 per cent bigger than 20 years ago and 25 per cent bigger than 30 years ago.</span></p>
<p><span style="font-size: 12.16px;">And that is important when doing comparisons of house prices over time. Not only are houses far bigger than those built in the 1980s and before, but the standard of fit-out today is far superior with higher quality kitchens, bathrooms, floor coverings and inclusions like air-conditioners.</span></p>
<p><span style="font-size: 12.16px;">While global statistics on home size are difficult to come by, latest data indicates that Australian homes are the second biggest in the world, behind the US.</span></p>
<p><span style="font-size: 12.16px;">The average new house built in the US last calendar year (latest available) was 240.4 square metres (m²), around 5 per cent bigger than in Australia. And US homes (houses and apartments) averaged 201.8m² in 2018, around 6 per cent bigger than in Australia.</span></p>
<p><span style="font-size: 12.16px;">In New Zealand the average home built in 2018/19 was 164.4m², around 13 per cent smaller than in Australia.</span></p>
<p><span style="font-size: 12.16px;">The UK Office of National Statistics and United Nations indicate that the average floor area of new homes built in the US, Australia and New Zealand were far larger than in European economies.</span></p>
<p><span style="font-size: 12.16px;">In recent years a key trend in Australia has been the increasing number of apartments being built. Eight years ago around 27 per cent of homes built were apartments. Today, apartments account for almost half (41 per cent) of all homes built.</span></p>
<p><span style="font-size: 12.16px;">And the increased number of apartments being built has served to reduce the size of the average new home built in Australia. In fact the average home was 186.8m² in 2017/18, the lowest level in 22 years. And the average home size rose by just 1.2 per cent from these lows in the past year.</span></p>
<p><span style="font-size: 12.16px;">Through the 2004-2010 period, the average apartment was around 140m². Today it is closer to 125-130m².</span></p>
<p><span style="font-size: 12.16px;">The shift to smaller apartments may mean that more of them need to be built to house the growing population compared with free-standing houses. Clearly, when considering issues like under-supply and over-supply, a range of issues need to be considered.</span></p>
<p><span style="font-size: 12.16px;">An increasing number of home buyers and renters prefer to live closer to offices, restaurants and recreational facilities in cities and towns. And given the limited supply of land, increased building of apartments and townhouses is necessary to satisfy demand.</span></p>
<p><span style="font-size: 12.16px;">Federal, state and local governments are also embracing the trend to urban consolidation, representing a more efficient utilisation of social and economic infrastructure such as roads, schools, public transport and hospitals.</span></p>
<p> </p>
<p><strong><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/8/Home%20Sizes.jpg" alt=""></strong></p>
<p><strong>What do the figures show?</strong></p>
<p><em>Australia &amp; US home completions</em></p>
<p>CommSec commissioned the Australian Bureau of Statistics to supply data on the average size of new homes built in Australia.</p>
<p>The data supplied relates to the average size of new homes built – houses, apartments and the average size of all homes. The ABS also indicates the proportion of homes built at the stated “average floor area”.</p>
<p>The United States Census Bureau provides both median and average estimates of new homes built and also supplies similar floor area data on new homes sold.</p>
<p>In 2018/19, the average size of a new house built in Australia was 228.8 square metres (m²), down from 231.8m² in 2017/18 and the smallest result in 17 years (since 221.2m² in 2001/02).</p>
<p>In the US, the average size of a new single-family house built in 2018 (latest estimate) was 2,588 square feet or 240.4m², down from a record 249.6m² in 2015. Australian houses were last bigger than US houses in 2011/12.</p>
<p>The average US home (houses and apartments) was 201.8m² in 2018.</p>
<p>In 2018/19 the average floor area of a new apartment in Australia (unit, townhouse, villa etc.) was 128.8m², up from 124.8m² in 2017/18 but 10 per cent below the high of 143.4m² in 2004/05.</p>
<p><em>States &amp; territories</em></p>
<p>The ACT is building the biggest houses in Australia. In 2018/19 the average floor area of a house built in the ACT was 250.8m², ahead of Victoria (246.0m²), Western Australia (225.3m²), and Queensland (223.0m² – a 21-year low).</p>
<p>The smallest new houses built were in Tasmania (178.5m² – a 23-year low).</p>
<p>By contrast, in 2018/19 the biggest apartments could be found in Tasmania (159.3m²) followed by Western Australia (155.8m²). The next biggest apartments were built in Victoria (147.5m²) and South Australia (139.3m²)</p>
<p>The smallest new apartments can be found in the ACT (102m²) and NSW (114m² - a 20-year low).</p>
<p>Of all homes built in 2018/19, the average floor area was biggest in Victoria (212.5m²), then Western Australia (212.3m²). In Western Australia over 75 per cent of homes built were free-standing houses, and in Victoria houses were 56 per cent of the total. By comparison, only around 43 per cent of homes built in NSW were free-standing or detached houses in 2018/19 and only 21 per cent of ACT homes.</p>
<p><strong>Home size peaks, more apartments, occupancy falls again</strong></p>
<p>Since the first Census was conducted in 1911, and up to 2006, the number of persons per dwelling consistently fell. In 1911 there was an average of 4.5 people in every home. But by 2006 this ratio had almost halved to around 2.4 people in every home. Not only were more homes being built but other factors like families with fewer children, more divorces and fewer marriages taking place had resulted in smaller families.</p>
<p>And as noted above, homes had been getting bigger until a few years ago. Apart from floor area, another way of looking at home size is the number of bedrooms. In the 2016 Census almost a third of homes had four or more bedrooms whereas 20 years ago the ratio was one in every six homes.</p>
<p>Census figures are only produced every five years. But fortunately demographic estimates are produced each quarter and they provide a guide to current trends in dwelling occupancy.</p>
<p>From 2006 to 2013, the number of people per dwelling rose. At face value, the modest increase in average household size may not seem significant. But it was the first increase in household size – and as a consequence, the average number of people in Australian homes – in at least a century.</p>
<p>Children were staying home longer with their parents – no doubt the cost of homes and rising rents being key influences. With the ageing population, more generations were choosing to stick together in the one dwelling – a trend that is a consequence of the increased size and quality of homes. New migrants also chose to stay with family or friends. And given the increased preference to attend universities and colleges, Generation Y was forced to share accommodation and save longer to buy a home.</p>
<p>According to quarterly ABS data, since 2014 the number of people per dwelling has been falling. Lower interest rates and the increased supply of cheaper apartments and townhouses (compared with free-standing houses) have prompted older couples to down-size. And more Generation Y / Millennials have been moving out of home and renting or taking ownership of accommodation more appropriate to their needs.</p>
<p>In part, the decline in household size explains some of the lift in home building. Higher population growth – especially in NSW, Victoria and the ACT – also explains the lift in home building. The question is whether household size continues to fall over the next few years or whether higher home prices act to stall demand, again prompting greater co-habitation of dwellings.</p>
<p>Free-standing houses now account for just over half of all new homes built with high-rise apartments and townhouses most in demand.</p>
<p><strong>What are the implications for interest rates and investors?</strong></p>
<p>Australians continue to build some of the biggest houses in the world. But an increasing proportion of Australians – especially in Sydney and Canberra – also want smaller homes like apartments, semi-detached homes and townhouses. As a result, the average home size has been falling over the past decade.</p>
<p>Generation Y, Millennials, ‘down-sizers’ and small families want to live closer to work, cafes, restaurants, shopping and airports and have been giving up living space for better proximity to the desirable amenities.</p>
<p>So urban consolidation continues. Older free-standing houses are making way for apartments. Building completions hit record highs in the year to March 2017, and have hovered near the highs in the period since. New council approvals to build homes have eased substantially from highs but there is still a substantial amount of work to be done.</p>
<p>It is important to note that there are major differences in house size across Australia. In 2018/19 only 21 per cent of ACT dwellings completed were houses, but those houses were the biggest in the nation and the biggest for the ACT in 11 years. Victoria built the second biggest houses in the nation and the biggest for the state in seven years. By contrast the average new free-standing house built in NSW was 10 per cent smaller than Victoria.</p>
<p>Clearly the changes in housing demand and supply, and the differences across the country, have major implications for builders, developers, investors, building material companies, financiers and all levels of Government. With the average number of people in homes falling and population rising, there is on-going need for a greater number of smaller homes to be built.</p>
<p><strong><em>CRAIG JAMES </em></strong><em>is the Chief Economist at CommSec</em></p>
</body></html>

cjames-5S2v74qSNK

Australia's houses are shrinking, smallest in 17 years: CommSec's Craig James

<html><body>
<p>The average floor size of an Australian home (houses and apartments) has fallen to a 20-year low, though latest data indicates that Australian homes are the second biggest in the world, behind the US.</p>
<p>Data commissioned by CommSec from the Australian Bureau of Statistics, shows the average new home is 189.8 square metres, down 2.7 per cent over the past year and the smallest since 1997.</p>
<p>The smaller home size can be attributed in a major way to the increased apartment construction, CommSec said in the report.</p>
<p>Although free-standing houses are still bigger. </p>
<p>In fact, the average new house built in 2016/17 was 233.3 square metres, the biggest in four years and more than 11 per cent bigger than 20 years ago. </p>
<p>The average house built today is over 30 per cent bigger than 30 years ago (the 1986/87 financial year).</p>
<p>On average, US houses are still bigger by around 5 per cent. And US homes (houses and apartments) are 8 per cent bigger.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/11/17/NewHomesBuilt.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/11/17/NewHomesBuilt.png" alt=""></p>
<p>Victorians are building the biggest houses in Australia, ahead of Western Australia and NSW. But the average size of houses built in South Australia in 2016/17 was the biggest in the state’s history.</p>
<p>In fact, the size of the average new house has grown slightly over the past two years. </p>
<p>House sizes are important when comparing prices over time, the CommSec report says. </p>
<p>“Not only are houses far bigger than those built in the 1980s and before, but the standard of fit-out today is far superior with quality kitchens, bathrooms, floor coverings and inclusions like air-conditioners,” it said.</p>
<p>Compared to US, Australian homes are the second biggest in the world.</p>
<p>The average new house built in the US last calendar year (latest available) was 245 sqm, around 5 per cent bigger than in Australia. And US homes (houses and apartments) averaged 204 sqm in 2016, around 8 per cent bigger than in Australia.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/11/17/AvgHomeSize.png" target="_blank">Click to enlarge</a></p>
<p> <img src="https://www.urban.com.au/images/2017/11/17/AvgHomeSize.png" alt=""></p>
<p>Neighbouring New Zealand is not far behind, with the average home built in 2016/17 (data on houses isn’t available) being 178.3 sqm, around 6 per cent smaller than in Australia.</p>
<p>The last global survey conducted by the United Nations indicates that the average floor area of new homes built in US, Australia and New Zealand were far larger than in other European economies.</p>
<p>In recent years a key trend in Australia has been the rise in construction of apartments, which now make up nearly half of all homes built unlike seven years ago when only around 27 per cent of homes built were apartments. </p>
<p>The increase in the number of apartments being built has reduced the size of the average home in Australia. </p>
<p>In fact the average home was 189.8 sqm in 2016/17, the lowest level in 20 years and down 2.7 per cent on a year ago.</p>
<p>Through the 2004-2009 period, the average apartment was around 140 sqm. Today, it is closer to 130 sqm.</p>
<p>“The shift to smaller apartments may mean that more of them need to be built to house the growing population compared with free-standing houses. And this point emphasises that when considering issues like under-supply and over-supply, a range of issues need to be considered,” says the report.</p>
<p>Five years ago economists were baffled by the failure of home building to lift to the level of assumed underlying demand. However the “apparent paradox” was explained by structural change such as demographics and increased utilisation of Australia’s large homes.</p>
<p>Now household size is falling again, and at the same time that the average home size is also falling. If current trends continue, more homes can be built without resulting in over-supply conditions. In short, supply would merely be responding to stronger demand. </p>
<p>“The key point being that it is not just population, but demographics and choice of accommodation driving demand,” says the report.</p>
</body></html>

jonathanchancellor-7SQnKwU6yx

Australian home size hits 20-year low: CommSec report

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">GUEST OBSERVER</div>
<div class="column"> </div>
<div class="column">Compared with 20 or 30 years ago, Australians could be regarded as building ‘McMansions’.</div>
<div class="column"> </div>
<div class="column">Still, houses are not continuing to get bigger, having peaked around 4-5 years ago. The same can’t be said for the US. US houses built in 2015 were the biggest on record, and arguably the biggest in the world.<br><br>Unfortunately there is no central reference source for the size of homes across the globe. Still, when we last looked at this issue in 2013, Australia and the US were building the biggest homes in the developed world. And now it seems to be clear that the US has pushed ahead in building even bigger homes while the size of new homes built in Australia have plateaued in recent years.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.15.10%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.15.10%20AM.png" alt=""></div>
<div class="column"> </div>
<div class="column"> </div>
<div class="column">European homes are far smaller than in the US or Australia, NZ homes are 7 percent smaller than Australia, and latest data suggests that Canadian homes are around 10 percent smaller than in Australia.</div>
<div class="column">
<br>The average new house built in the US last calendar year (latest available) was almost 250 square metres, around 10 per cent bigger than in Australia. The results were actually greeted with some consternation in the US in June when they were released. Particularly the fact that homes are getting bigger, but not lot sizes (“The Shrinking of the American Lawn”).</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.17.09%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"> </div>
<div class="column"><img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.17.09%20AM.png" alt=""></div>
<div class="column">
<br>Australian houses are still big, but they don’t seem to be getting bigger on average. Still, the average new house is 10 per cent bigger than 20 years ago and around 30 percent bigger than 30 years ago.</div>
<div class="column">
<br>And this is a point not picked up in discussion of home prices. Not only are homes far bigger than those built in the 1980s and before, but the standard of fit-out today is far superior with quality kitchens, bathrooms, floor coverings and inclusions like air- conditioners.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.18.29%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.18.29%20AM.png" alt=""></div>
<div class="column">
<br>Australians have also been shifting to smaller apartments. In 2015/16 more than 200,000 homes were built, up 37 percent in the space of three years. But less than 60 percent of homes built were free-standing houses, down from the long-term average of 70 percent.</div>
<div class="column">
<br>Through the latter period of the ‘noughties’, the average apartment was around 140m2. Today it is closer to 130m2.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.19.46%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.19.46%20AM.png" alt=""></div>
<div class="column">
<br>The shift to smaller apartments may mean that more of them need to be built to house the growing population than if bigger houses were being built instead.</div>
<div class="column"> </div>
<div class="column">In short, when considering issues like under-supply and over-supply, a range of issues need to be considered.</div>
<div class="column">
<br>Five years ago economists were baffled by the failure of home building to lift to the level of assumed underlying demand. However the “apparent paradox” was explained by structural change such as demographics and increased utilisation of Australia’s large homes. Now household size is falling together with the size of homes being built. And if household size falls again to around two people per dwelling, then clearly more homes can be built without over-supply developing. </div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.21.08%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"> </div>
<div class="column"><img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.21.08%20AM.png" alt=""></div>
<div class="column"> </div>
<div class="column">What do the figures show?</div>
<div class="column"> </div>
<div class="column">Australia &amp; US home completions</div>
<div class="column"> </div>
<div class="column">CommSec commissioned the Australian Bureau of Statistics to supply data on the average size of new homes built in Australia. The last time that the ABS supplied information on average home size was in November 2013 for the 2012/13 year.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.32.12%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"> </div>
<div class="column"><img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.32.12%20AM.png" alt=""></div>
<div class="column">
<br>The data supplied relates to the average size of new homes built – houses, apartments and the total of all homes. The ABS also indicates the proportion of homes built at the stated “average floor area”.</div>
<div class="column">
<br>The United States Census Bureau provides both median and average estimates of new homes built and also supplies similar floor area data on new homes sold.</div>
<div class="column"> </div>
<div class="column">In 2015/16, the average size of a new house built in Australia was 231 square metres (m2), up from 229.4m2 in 2014/15 but down from the record high of 247.7m2 in 2008/09.</div>
<div class="column"> </div>
<div class="column">In the US, the average size of new single-family houses built in 2015 (latest estimate) was 2,687 square feet or 249.6 square metres. At the recent peak in 2011/12, the average house built in Australia had stood at 244.9m2, just over 5 per cent above the US average of 232.7m2.</div>
<div class="column"> </div>
<div class="column">In 2015/16 the average floor area of a new apartment in Australia (unit, townhouse, villa etc.) was 131.3m2, up from 129.0m2 in 2014/15 but almost 9 percent below the high of 143.7m2 in 2004/05.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.33.16%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.33.16%20AM.png" alt=""></div>
<div class="column"> </div>
<div class="column">States &amp; territories </div>
<div class="column"> </div>
<div class="column">Victorians are building the biggest houses in Australia. In 2015/16 the average floor area of houses built in Victoria was 241.1m2, ahead of Queensland (237.7m2), NSW (227.4m2) and Western Australia (227.0m2).</div>
<div class="column"> </div>
<div class="column">The smallest new houses built were in the ACT (180.8m2) and Tasmania (188.1m2).</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.34.24%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.34.24%20AM.png" alt=""></div>
<div class="column">In 2015/26 the biggest apartments could be found in the Northern Territory (179.3m2). However, the data may be distorted by the small number of completions in the year (857).</div>
<div class="column"> </div>
<div class="column">Of the states, Victoria built the biggest apartments in 2015/16 with the average floor area at 134.7m2, ahead of NSW (132.4m2) and South Australia (131.0m2).</div>
<div class="column"> </div>
<div class="column">Of all homes built in 2015/16, the average floor area was biggest in Western Australia (205m2), then Victoria (203.3m2). In Western Australia over 76 per cent of homes built were free-standing houses, compared with around 59 per cent in Victoria.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.35.24%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"> </div>
<div class="column"><img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.35.24%20AM.png" alt=""></div>
<div class="column"> </div>
<div class="column">Home size peaks, more apartments, occupancy falls again</div>
<div class="column"> </div>
<div class="column">Since the first Census was conducted in 1911, the number of persons per dwelling has consistently fallen. In 1911 there was an average of 4.5 people in every home. But by 2006 this ratio had almost halved to around 2.4 people in every home. Not only have more homes been built over time but other factors like fewer children and divorces have resulted in smaller families.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.36.28%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%208.36.28%20AM.png" alt=""></div>
<div class="column"> </div>
<div class="column">And as noted above, homes had been getting bigger until a few years ago. Apart from floor area, another way of looking at home size is the number of bedrooms. In the 2006 Census around one in every 3.5 homes had four or more bedrooms whereas 20 years ago the ratio was one in every six homes.</div>
<div class="column"> </div>
<div class="column">Unfortunately Census figures are only produced every five years. Fortunately demographic estimates are produced each quarter and they provide a guide to current trends in dwelling occupancy.</div>
<div class="column"> </div>
<div class="column">From 2006 to 2013, the number of people per dwelling rose. At face value, the modest increase in average household size may not seem significant. But it was the first increase in household size – and as a consequence, the average number of people in Australian homes – in at least a century.</div>
<div class="column"> </div>
<div class="column">Children were staying home longer with their parents – no doubt the cost of homes and rising rents being key influences. With the ageing population, more generations were choosing to stick together in the one dwelling – a trend that is a consequence of the increased size and quality of homes. New migrants also chose to stay with family or friends. And given the increased preference to attend universities and colleges, Generation Y was forced to share accommodation and save longer to buy a home.</div>
<div class="column"> </div>
<div class="column">But since 2014 the number of people per dwelling has again been falling. Lower interest rates and increased supply of apartments have prompted older couples to down-size. Generation Y began to move out of home and take ownership of accommodation more appropriate to their needs. In part, this explains some of the lift in home building. The question is whether household size continues to fall or whether higher home prices stalls demand, prompting greater co-habitation of dwellings.</div>
<div class="column"> </div>
<div class="column">What is the importance of the economic data?</div>
<div class="column"> </div>
<div class="column">The Australian Bureau of Statistics (ABS) collects data on new home completions. Where the data is made available, estimates of the average flor area of the com homes can be calculated. Changes in the size of homes has implications for builders, developers and retailers of home appliances. If bigger homes are built, this may result in fewer homes being built to absorb increases in population.</div>
<div class="column"> </div>
<div class="column">What are the implications for interest rates and investors?</div>
<div class="column"> </div>
<div class="column">Australians continue to build big homes. But there has been a clear shift in the past few years. Australians are re- assessing their needs. Couples and small families are considering apartments. Down-sizers are also moving closer to the city or sea-changing or tree-changing. There is less need for big 4-5 bedroom homes and it is clear across suburbia that consolidation continues to occur – homes being demolished and replaced with apartments, town houses and villas.</div>
<div class="column"> </div>
<div class="column">While one theme is ‘ageing Australia’, there is also the re-assessment of housing needs by Generation Y and Millennials. Many in Sydney, Melbourne and Brisbane are seeking to live closer to work, cafes, restaurants, shopping and airports and are giving up living space for better proximity to the desirable amenities.</div>
<div class="column"> </div>
<div class="column">Last year Victoria built a record number of homes. Similarly NSW built the greatest number of homes since the Sydney Olympics. But rental vacancy rates haven’t soared, rather gravitated to more balanced outcomes. Clearly investors need to pay greater attention to changes in household size to work out what is going on.</div>
<div class="column"> </div>
<div class="column">At present there is significant discussion about the potential for some housing markets to be over-supplied with new homes. But while home building is at record highs, demand for homes has increased in line with rising population, especially in Sydney and Melbourne. And housing needs have changed. Younger buyers – and indeed some older ‘downsizers’ – are looking to live in smaller homes. And the market is responding. Clearly the issue of over-supply is complicated. But the changes in housing demand and supply have major implications for builders, developers, investors, building material companies, financiers and all levels of Government. </div>
<div class="column"> </div>
<div class="column"><em>Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.</em></div>
<div class="column"> </div>
<div class="column">
<em>Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a></em>
<div class="page" title="Page 2"> </div>
</div>
</div>
</div>
</div></body></html>

Home Size

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Home Size

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News