Research commissioned by the bank's broking arm, CommSec, shows the Australian house has grown on average by 10 percent in the past decade to 214.6 square meters (2,310 sq ft) -- nearly three times the size of the average British house.

By contrast, the average size of new homes started in the United States in the September quarter was 201.5 square meter (2,169 sq ft), down from 212 square meter (2,282 sq ft), with the average U.S. home shrinking for the first time in a decade due to the recession.

In Europe, Denmark has the biggest homes, which takes into account houses and flats, with an average floor area of 137 square meter, followed by Greece at 126 square meter, and the Netherlands at 115.5 square meter.

Homes in Britain are the smallest in Europe at 76 square meter. But according to data from the Australian Bureau of Statistic issued by CommSec, while Australian houses are getting bigger, so are the families.