118 smashed avocados a day: finder.com.au’s Smashed Avocado Index reveals the astonishing capital growth in some Australian suburbs

Graham Cooke 30 January 2017 NEWS

Avacado_Shutterstock738

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 Avocado 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 Avocado 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 Avocado 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 Avocado 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 Avocado 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 Churchlands House 6.10% $216 10

Tasmania

Rank Suburb Home type 12-month price growth Daily gain finder.com.au ‘Smashed Avocado 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 Avocado 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 Avocado 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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