House Size in NZ

Good Morning and Welcome to this week’s Gospel and Culture update, by Alan Vink
House Size in NZ
Tuesday 18th April 2023

House Size In NZ

The average size (floor area) of a new Kiwi home has ballooned in the last 30 years. Latest research from Quotable Value puts the average size of a home built since 2010 at 205 square metres, against just 142.4 square metres in 1980. Quotable Value research director Jonno Ingerson said much of the increase could be put down to a rise in the construction of four bedroom homes, particularly during the last 20 years. "Since 2000 more houses built had four bedrooms than three for the first time. Five bedroom homes have also increased from 3 per cent up to 11 per cent. “Four bedroom homes currently account for about half of all new builds in New Zealand, Ingerson said.

All the while the number of people in each house in NZ has dropped to around 2.5 on average down from 4 people in 1950 when the average house was 100 sq.m. So to summarise. Today we have on average double the size homes compared to the 50’s and 60’s with 1.5 less people living in them. Also driving the increase in prices is a young couples ‘wish list’ that includes an ensuite bathroom, an internal garage and a second living space.

If new builds cost around $4000 per sq.m. then a 150sqm house will cost $600,000. Add on the land cost of anything between $300K-$500K (depending where you buy) and you are at $1,000,000 before you know it. Little wonder it is getting out of reach for most young couples. For those who can afford it the interest + principal payments on a say $700,000 mortgage (currently around $1000 per week) ‘forces’ both he and her to work.

POV. I think home ownership should be a discipleship issue. Given a couples housing decision is by far and away the biggest financial decision they will ever make, how good it would be if every young Christian couple could be ‘mentored’ about this decision. How good it would be if this decision, like all our spending decisions, reflect the biblical values of modesty, simplicity and affordability (living within your household income)? Further, I would encourage a discussion early on as to what it will mean as far as household income is concerned when the first child arrives.

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