It’s official – Australian homes are now the largest in the world – more 6% bigger than the average US home and amazingly – nearly three times larger than the average home in the UK.
Data released yesterday by Commsec shows that over the last 20 years, the average size of a home in Australia has increased by more than 30%.
The houses are emptier too, with the number of people in each home gradually declining over the last 100 years because of a trend towards smaller families. This trend has only just started to change, with the number of people to a dwelling rising slightly last year – the first time it has done so in over a century.
However, with the increase in house sizes, there appears to be a corresponding increase in rental costs. A report from BIS Shrapnel has also forecasted that rents are expected to spiral with a rise of 5% a year in most capital cities over the next few years.
So, if you (like many Aussies apparently) are living in a large home and have more space than you know what to do with, now is a prime opportunity to cash in on it. You can convert that empty, unused, or spare space into a regular extra income – simply advertise your space for rent, make some extra cash, and provide an opportunity for someone else in your community to save money on storage costs.
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