How many hipster breakfasts could your property buy you?
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.
New South Wales
Rank
Suburb
Home type
12-month price growth
Daily gain
finder.com.au ‘Smashed Avacado Index’
1
Point Piper
Unit
49.40%
$2,603
118
2
Darling Point
House
13.70%
$2,349
107
3
Tennyson Point
House
43.80%
$2,288
104
4
Cammeray
House
35.10%
$1,849
84
5
Chiswick
House
28.10%
$1,712
78
6
Rose Bay
House
20.20%
$1,712
78
7
Bellevue Hill
House
15.80%
$1,712
78
8
Dolans Bay
House
42.00%
$1,672
76
9
Vaucluse
House
16.10%
$1,671
76
10
Cecil Park
House
46.70%
$1,658
75
Victoria
Rank
Suburb
Home type
12-month price growth
Daily gain
finder.com.au ‘Smashed Avacado Index’
1
Hawthorn
House
25.00%
$1,096
50
2
Abbotsford
House
37.80%
$827
38
3
Mckinnon
House
21.10%
$784
36
4
Flinders
House
33.70%
$760
35
5
Fairfield
House
27.60%
$723
33
6
Ormond
House
20.70%
$710
32
7
Sandringham
House
17.70%
$663
30
8
Fairhaven
House
31.60%
$658
30
9
Hampton
House
15.70%
$658
30
10
Fitzroy
House
23.40%
$652
30
Queensland
Rank
Suburb
Home type
12-month price growth
Daily gain
finder.com.au ‘Smashed Avacado Index’
1
Teneriffe
House
28.80%
$1,164
53
2
New Farm
House
21.80%
$822
37
3
Minyama
House
29.90%
$658
30
4
South Brisbane
House
20.00%
$646
29
5
Milton
House
32.10%
$633
29
6
Robertson
House
26.70%
$622
28
7
Broadbeach Waters
House
26.40%
$601
27
8
Mermaid Beach
House
18.20%
$589
27
9
Ilkley
House
36.10%
$568
26
10
Anstead
House
28.50%
$507
23
South Australia
Rank
Suburb
Home type
12-month price growth
Daily gain
finder.com.au ‘Smashed Avacado Index’
1
Netherby
House
29.00%
$721
33
2
Glenelg South
House
35.00%
$688
31
3
Tennyson
House
28.30%
$644
29
4
Royston Park
House
25.60%
$614
28
5
Walkerville
House
21.00%
$575
26
6
Forestville
House
36.80%
$556
25
7
Erindale
House
23.40%
$555
25
8
Kangarilla
House
37.00%
$548
25
9
Glenside
House
23.90%
$527
24
10
Henley Beach
Unit
49.70%
$514
23
Western Australia
Rank
Suburb
Home type
12-month price growth
Daily gain
finder.com.au ‘Smashed Avacado Index’
1
Swanbourne
House
22.60%
$863
39
2
Boya
House
38.70%
$516
23
3
Bouvard
House
41.50%
$466
21
4
Mount Pleasant
Unit
21.80%
$356
16
5
Furnissdale
House
29.60%
$288
13
6
Kallaroo
House
15.90%
$284
13
7
Ocean Beach
House
20.00%
$260
12
8
Shenton Park
House
7.20%
$223
10
9
Shenton Park
Unit
18.60%
$219
10
10
Churchland
House
6.10%
$216
10
Tasmania
Rank
Suburb
Home type
12-month price growth
Daily gain
finder.com.au ‘Smashed Avacado Index’
1
Hawley Beach
House
43.40%
$410
19
2
Battery Point
House
16.70%
$407
19
3
Hobart
House
19.30%
$272
12
4
Mountain River
House
25.30%
$267
12
5
Spreyton
House
36.50%
$245
11
6
Sandy Bay
House
13.10%
$242
11
7
Cremorne
House
22.70%
$241
11
8
Montagu Bay
House
22.20%
$192
9
9
Nubeena
House
37.00%
$185
8
10
Geeveston
House
31.20%
$182
8
Australian Capital Territory
Rank
Suburb
Home type
12-month price growth
Daily gain
finder.com.au ‘Smashed Avacado Index’
1
Forrest
House
20.20%
$1,068
49
2
Red Hill
Unit
48.50%
$863
39
3
Yarralumla
House
24.50%
$767
35
4
Deakin
House
24.40%
$644
29
5
Yarralumla
Unit
43.00%
$619
28
6
Turner
House
16.60%
$525
24
7
Barton
Unit
33.90%
$411
19
8
Red Hill
House
12.30%
$384
17
9
Pearce
Unit
33.90%
$383
17
10
Narrabundah
House
16.80%
$328
15
Northern Territory
Rank
Suburb
Home type
12-month price growth
Daily gain
finder.com.au ‘Smashed Avacado Index’
1
Cossack
House
32.30%
$363
17
2
Ludmilla
House
19.10%
$323
15
3
Desert Springs
House
12.50%
$216
10
4
The Gap
House
20.30%
$192
9
5
East Side
Unit
15.60%
$119
5
6
Coconut Grove
Unit
9.50%
$110
5
7
Gillen
Unit
14.30%
$103
5
8
Alawa
House
6.60%
$101
5
9
Larrakeyah
Unit
7.70%
$99
5
10
Johnston
Unit
7.20%
$96
4
Graham Cooke's Insights Blog examines issues affecting the Australian consumer. It appears regularly on finder.com.au.
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