Stop buying brekkie to afford a Northern Rivers dream home
SOCIAL commentator Bernard Salt has received a barrage of criticism for his suggestion that young people would be able to afford houses if they just stopped blowing cash in hipster cafes.
The story has been reported by the BBC and was even raised in the Senate estimates this morning.
Speaking to The Northern Star, Mr Salt stood by his comments and said that if young people wanted homes, they needed to have self-control.
"If you do want to buy a house then you need to be focused from a very early age, you need to be disciplined and you need to make choices and sacrifice the lifestyle that your friends might be enjoying," he said.
Mr Salt said if young Northern Rivers residents wanted a house, they also needed to make choices about which area to live in.
"You might have to make choices about where you want to live, maybe not in the best part of the Northern Rivers region, maybe in a less good part," he said
Though according to this list, it may not matter which part of the Northern Rivers young people live in, they will still have to make some serious breakfast sacrifices.
How many smashed avocado breakfasts will you have to skip in your Northern Rivers home town to save for a house deposit?
The Northern Star has the results based on some popular cafes and median house prices from Your Investment Property Magazine.
Ballina - The Belle General
At $16 the price of avocado on toast at The Belle General isn't too hard to stomach and being $6 cheaper than Bernard Salt's observation, his kids might get away with ordering this one.
With a median house price of $450,000 millennials in Ballina would have to give up 5625 Belle General breakfasts.
Bangalow - Our Corner Kitchen
Avocado toast at Our Corner Kitchen in Bangalow will set you back $12.
Bangalow has a high median house price at $732,500 so with the relatively low cost of an avocado breakfast there, a house deposit is equal to 12,208 of them.
This means by skipping breakfast and saving this money each day, Bangalow dwellers could afford a house in 33 years.
Byron Bay - Three Blue Ducks at The Farm
Three Blue Ducks charges $20 for avocado, stracchino & poached eggs macadamia crumb & chilli sourdough.
The median house price in Byron is $1 million, so a 20% deposit for a house would cost you 10,000 avocado breakfasts at Three Blue Ducks.
Through the extraordinary accomplishment of avoiding daily breakfasts out and saving the money, Byron residents would have enough for a deposit in just over 27 years.
Lennox Head - Quattro
At Quattro in Lennox Head the price is fairly palatable at $14 for smashed avocado.
With a median house price of $799,500 young Lennox residents would need to resist Quattro breakfasts 11,421 times to afford a 20% house deposit, or about 31 years.
Lismore - The Bank Café
The Bank Café in Lismore offers an avocado and feta breakfast for just $12.50.
Lismore has a median house price of $281,000, so a 20% house deposit is the equivalent of 4496 of the Bank Café's avocado breakfasts.
Mullumbimby - Punch and Daisy
Punch and Daisy in Mullumbimby offers dressed avocado for only $12.
Mullumbimby has a median house price of $600,000 and so the average house deposit is equal to 10,000 of Punch and Daisy's dressed avocados.
So, with a low avocado breakfast price but high median house price, Mullumbimby residents would wait as long as Byron residents if saving the meal cost each day - over 27 years.