The Australian dream of owning your own home has become a lot smaller in high-demand areas as first home buyers push to break into the market.
This two-storey, two-bedroom townhouse sits on a 68-square-metre block and sold for close to $500,000.abc.net.au/news/first-home-buyers-snap-up-smaller-block/101385870The Australian dream of owning your own home has become a lot smaller in high-demand areas, with buyers snapping up tiny properties as they try to break into the housing market or downsize from something bigger.
Developer Stockland estimates that one in three of its new properties were "more compact, affordable lots". Mr Ellmer said buyers still asked for the largest block they could afford, but rising house prices meant the smaller lot was the best fit.
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