Home Buyers Saving Due To Developers Offering Smaller Houses On Smaller Blocks

12/02/2012 11:37 pm

Home buyers are collectively saving upwards of $60,000 on a new property as a result of a move by developers to offer smaller houses on smaller blocks.

Research indicates house sizes in Stockland developments have declined on average by 60m² for three and four bedroom houses since 2007.

Reductions in house sizes have enabled new home buyers to save between $40,000 and $60,000.

The buyer preference for three bedroom homes has increased 14% since 2007 for Stockland housing developments.

Stockland's managing director, Matthew Quinn, said the group had been able to meet increasing customer affordability constraints as housing design continued to become more efficient.

''At $800-$1000 per square metre build cost, [a] reduction in house size represents potential savings of up to $40,000 to $60,000 for customers,'' Mr Quinn said.

Get the full details here via SMH Stockland builds on move to small homes.