ONE of the nation's biggest developers has said the size of new homes has peaked and that affordability issues would mark the end of the so-called McMansion and the growth of smaller, more efficient homes.
While the average new home grew 10 per cent to a world record 215 square metres in the decade to 2009, the managing director of Stockland, Matthew Quinn, said homes were shrinking and the trend was locked in.
Announcing Stockland's results for the financial year, Mr Quinn said by cutting up to 70 square metres from the size of a new home, buyers could save $40,000-$60,000 a house, making them affordable.
Already the average size of a four-bedroom house has dropped 20 per cent since 2007 while three-bedroom houses have shrunk by 26 per cent over the same period as living areas, media rooms and hallways disappeared in more compact designs.
While one in 10 new homes in Stockland developments had five bedrooms in 2007, only 2 per cent of new homes this year were as big and the percentage of three-bedroom homes had leapt from 21 per cent to 34 per cent in the same period.
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