How many hipster breakfasts could your property buy you? Asks…
Graham Cookes, Finder.com.au – Insights Blog
There has been a lot of discussion across the media recently following Bernard Salt bemoaning the gall of millennials spending $22 a pop on “smashed avocado with crumbled feta on five-grain toasted bread” rather than saving for a home deposit.
This got us wondering: if you’re already one of the privileged few with a foot (or two) firmly on the Australian property ladder, exactly how many fancy hipster breakfasts could you buy based solely on the increase in the value of your property?
To find out, we crunched the numbers using CoreLogic data covering over 10,000 Australian suburbs to create the finder.com.au Smashed Avocado Index.
The index describes the number of smashed avocado breakfasts a homeowner could buy every day based on the increase in the value property over the previous twelve months.
Perhaps unsurprisingly, the list is dominated by affluent suburbs, especially in NSW.
Purchase of a unit in Point Piper, Sydney would have netted a value gain of $950,000 in the 12 months to November 2016 – the highest gain of any suburb in Australia.
If you were to take that budget to breakfast, it would buy you 43,182 smashed avocados a year, or 118 per day.
That’s a lot of guacamole! In fact, the Point Piper gain could have been enough to buy a whole house in 3,830 other Australian suburbs.
Darling Point comes in at second place in NSW with a smashed avocado index of 107, while Tennyson Point comes in third (104).
These are the only three suburbs in Australia which could net you over 100 smashed avocados a day.
Cashing in the capital gains for a house in Hawthorn in Victoria purchased a year ago would net you 50 smashed avocado breakfasts a day, while Queensland’s Teneriffe would pay for 53.
Real-estate rich Tasmanians living in Hawley Beach and Battery Point would, however, have to get along with only 19 smashed avocados a day.
Check out the full national results in the tables below.
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