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No toast for you! How many smashed avo brunches it takes to buy a house

No toast for you! How many smashed avo brunches it takes to buy a house

Earlier this week, Bernard Salt made headlines by claiming the money people under 40 spend on smashed avocado with crumbled feta five-grain toast could be used to save a deposit for a house. 

The claim has incensed many Millennials and spurred counter-claims that years worth sacrificing their brunch wouldn’t bring them close to the amount needed for a deposit thanks to the housing affordability crisis. 

We crunched the numbers for each state and found based on Salt’s nominated price in The Weekend Australian – $22 a pop – it would take more than a decade of giving up daily brunches to save for the median deposit just about everywhere. And that’s a daily brunch. 

LocationMedian house priceDeposit size (20%)# smashed avo toastYears without daily brunch
Sydney$825,000165,000750020.5
Melbourne$580,000116000527314.4
Brisbane$485,00097000440912
Adelaide$435,00087000395410.8
Perth$520,000104000472713
Hobart$356,5007130032408.9
Darwin$570,000114000518114
Canberra$586,300117260533014.6

Sources: ratecity.com.au, ABS Residential Property Price Indexes, March house prices (June 2016), Bernard Salt. 

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