Australian property developer Tim Gurner stunned the world last year with his comments that if millennials stopped buying smashed avocado for $19 and four $4 coffees a day they’d actually be able to afford a house.
This focus on the humble smashed avocado and buying a home has led to the creation of a hilarious Instagram account that is dedicated to just that – how avocados translate to property ownership.
‘Behold @theavocadodream, our new (millennial pink) ‘Instagram magazine’, dreamed up for millennials who love homes but can’t afford them,’ said interior design and architecture website, Curbed.
‘We cover homes on the market for $1 million or less, and break down just how many years of avocado toast it would take to purchase the property.’
Property developer Tim Gurner made headlines last year after he implied that young people weren’t able to save for a home deposit because of how they were spending (stock image)
The tongue in cheek account is a reaction to Gurner, but also to other ‘avocado’-obsessed commentators.
Demographer Bernard Salt wrote a piece for The Australian in which he said if young people stopped going to ‘hipster cafes’, they would be able to purchase property.
‘I have seen young people order smashed avocado with crumbled feta on five-grain toasted bread at $22 a pop and more,’ he wrote.
Millennials spending habit were called into question by Australian demographer, Bernard Salt (stock image)
‘When I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and four coffees at $4 each,’ Tim Gurner said (stock image)
What it costs to buy a home in Australia’s major cities:
Sydney: Median house price is $1,151,565
Melbourne: Median house price is $843,674
Brisbane: Median house price is $655,000
Adelaide: Median house price is $501,166
Perth: Median house price is $578,426
Hobart: Median house price is $512,809
‘I can afford to eat this for lunch because I am middle aged and have raised my family. But how can young people afford to eat like this?’
So, in the wake of @theavocadodream, here, at FEMAIL, we’ve taken a look at some properties in Australia to get an idea of how many servings of smashed avocado on toast meals it would take to buy them.
The first property we checked out was a tidy three-bedroom home in Youngtown, Tasmania.
This brick and tile house is on the market, and is expected to reach up to $285,000.
So, if you spend on average $13 for avocado on toast at your local cafe, it would take you 21,923 servings to save up the total price.
This three-bedroom home is for sale in Youngtown, Tasmania for $260,000 – $285,000
Another property we checked out was an incredibly sweet three-bedroom character home in Red Hill, Queensland, which is listed for $785,000.
Again using the average of $13 for the much-loved millennial favourite you would need to abstain from 60,384 servings of avocado on toast in order to afford this.
Taking it up a notch, we looked at a very chic property in Sydney – Australia’s most expensive city.
Again using the average of $13.00 for the much-loved millennial favourite you would need to abstain for 600 years in order to afford cute home in Queensland
Here, a three-bedroom Victorian terrace in Newtown is on the market for $1,398,000.
Given costs of living in the NSW capital are significantly higher, let’s presume a plate of avocado toast cost around $19.
In order to afford this property, and with the cost of avocado toast, you would need to ditch 73,579 cafe breakfasts.