Canberra has the biggest homes of global capital cities

Canberra reigns supreme in having the biggest homes of all capital cities across the world, with a median house size 36 per cent larger than the city in second place, according to a new study. 

Buildworld, a building product company from the UK, revealed Canberra topped the list with a median of 256.3 square metres, beating Cairo – the second capital city on the list – which came in at 188 square metres. 

Buildworld collated the data by analysing listings on local real estate websites in global capitals, pitting 72 major capital cities against each other to find where they stood. 

The median size of Canberra’s houses was 560 per cent larger than the city with the smallest median house size on the list – Moscow, with a median of just 45.5 square metres. 

Domain’s Housing Affordability: The Price Per Square Metre report revealed Canberra’s median block sizes were the second-largest of all Australian capitals. The capital came in as the third most expensive per square metre, behind Sydney and Melbourne.

The combination of larger median house and block sizes in Canberra was largely responsible for the growth in house prices over the past few years, Domain chief of research and economics Dr Nicola Powell said in the report. 

While there was a definite demand for large houses in Canberra’s current market, there had been a significant increase in the appeal of smaller residences like apartments and townhouses, said James Scott of VERV Property. 

“Apartments and townhouses are garnering higher successful sale rates due to the increasing uncertainty from buyers in the market,” he said. 

“Canberrans are still drawn to their ideal home based on their needs, and with ample space in the nation’s bush capital, we’ve had the luxury of larger blocks in our relatively young city.

“However, we have noticed a shift in buyer mentality … apartments and townhouses are becoming increasingly more popular to buyers in the ACT, a decision determined by affordability, convenience, location, security and access to amenities.” 

With the desire to live in a capital city came the need for more houses to be built to match the growing population, and without this, house prices continued to rise, Powell added. 

“Apartments are an excellent resource for high-density housing, where many dwellings can be constructed on a plot of land,” she said. 

“However, an increase in high-density housing means less space for traditional house dwellings, making them even more expensive due to the preference for this type of housing.

“Canberra has one of the highest differences between population and supply growth, which has been reflected in a growing median house price.” 

The demand for housing by Canberrans had increased annually by 2.1 per cent, while the housing supply had only grown 1.5 per cent, according to the report. 

The population of Canberra had also grown over the past few years, with the latest 2021 census revealing there were 21,000 more Canberrans than predictions had estimated.

Canberra’s large established homes and suburbs meant that there was limited land available for building, Scott said 

“As Canberra continues to grow, we will see our city expand into newer areas,” he said. “However, the option to renovate established ACT suburbs will always be attractive.

“Those who wish to design a home that suits their requirements and have the means will continue to want to do so, and that demand is certainly still there.”