Tis true. Gone are the days of the old Beazly, Neil, Sunset etc homes that were actually pretty cheap. Peoples wants have turned to needs in the kitchens, ensuites, wardrobes, family rooms, studys, and internal garages of thier homes, resulting in a near doubling of size of the average home. Along with more expensive flooring fixtures and fittings tastes (wardrobe organisers, more lights and power points, granite bench tops, more complex cabinetry & $5000 faucets etc) that seem to have become the norm.... small wonder they cost a lot.
Another factor is the price of land. With 400M2 sections (which are generally not flat and cheap to build on) going for $200-400K it doesn't make sense to put a 100M2 (true low spec) $90K shoe box on it.
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