Many new home buyers around Australia are saving an excess of $60,000 thanks to a move by property developers offering smaller houses on smaller blocks to assist with affordability.

The largest residential land developer, Stockland, was the first company to start selling these smaller house and land packages to meet consumers’ wishes to downsize.

Stockland Managing Director, Matthew Quinn said, “People’s resistance to small lots and small houses has gone. It’s now about affordability”.

The quality of the home still remains high, just the size of the home has been reduced from an average of 247 square metres to now sitting at 181 square metres. The land has also gone from an average of 569 square metres to 451 square metres.  This equates to an average 4 bedroom home being reduced by 60 square metres and a 3 bedroom home by approx 66 square metres.

By comparison, the blocks in Wagga Wagga will still be significantly bigger than lots in Sydney, Canberra, Melbourne and Brisbane, however we are definitely seeing a similar reduction in size taking shape here.

Fitzpatricks Real Estate has achieved this with some of the new lots in Tatton, with blocks in the last stage and the stage about to be released being smaller and priced more affordabily. This approach will be continued at both Boorooma and Lloyd.

This is great news for those in the market for an affordable brand new home, who will not only save themselves some serious money on the purchase price, will also be saving on ongoing costs associated with running a smaller home.

If you would like to know more information about land currently available at Fitzpatricks Real Estate, feel free to contact our office on 6921 1555 to see how we can assist you in building your next home.