Land Down Under Houses World's Largest Homes

The continuing gloom in the housing sector left many people homeless and thousands of homes hanging in the market. But all is not lost. Investors believe that the housing market will soon rebound fueled by improving business conditions, renewed jobs growth, a loosening of credit restraints for mortgages.

As to when will the housing market rebound, people in the housing industry are still waiting for significant developments to occur before finally concluding that, a recent study suggests that the U.S. no longer holds the crown as the country with the biggest homes in the world.

Australian house has grown on average by 10 percent in the past decade to 214.6 square meters (2,310 sq ft) according to the research findings of CommSec, commissioned by the Commonwealth Bank of Australia.

The United States has traditionally possessed the largest homes in the world. But for the first time in a decade, new homes in the US are shrinking. In the September quarter, the average size of new homes started in the US stood at 201.5m², with the average new house estimated at 217.8m².

Currently, these countries own the largest homes in the world.

1. Australia 214.6
2. United States 201.5
3. New Zealand 196.2
4. Denmark 137.0
5. Greece 126.4
6. Belgium 119.0
7. Netherlands 115.5
8. France 112.5
9. Germany 109.2
10. Luxembourg 104.1
11. Spain 96.6

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