By now most people have probably heard about Australia’s “avocadogate”.
In case you missed it, a couple of weeks ago high-profile demographer Bernard Salt wrote in his column for The Weekend Australian Magazine that young homebuyers would have a better chance of securing a home if they gave up ordering “smashed avocado with crumbled feta on five-grain toasted bread at $22 a pop and more”.
Bernard’s comments have been met with a lot of criticism, with the accumulated cost to buy smashed avocado for breakfast every now and again probably not going to be a major contribution in affording a property in one of Australia’s major cities – namely Sydney or Melbourne.
If you bought an expensive breakfast at $22 every weekend, which adds up to $1,144 a year – it’s not going to put much of a dent in saving for a home loan deposit in Sydney where the median property price is over $1 million.
The struggle to buy in a competitive market like Sydney isn’t going to go away any time soon, no matter how many smashed avo breakfasts people go without.
Young buyers are turning to other options to get into the property market, and one of them is to move away from places like Sydney to find a lifestyle that is more affordable.
One place that is popular with young people looking for a better option than the hustle and bustle and ridiculous prices of Sydney is right here in Mudgee.
We’re seeing an increasing number of young buyers looking to buy in Mudgee and take advantage of cheaper home prices and a more peaceful way of life.
And why wouldn’t they? In Mudgee the current median house price is just $376,00 according to RP Data, and there are many fantastic properties that can be found under this price too. You would struggle to find even a unit for the same price in a popular area in Sydney.
Having the NBN service available and frequent flights to and from Sydney makes the move from Sydney to Mudgee much more appealing to young buyers than what it was in the past. Some are even able to keep their jobs in the city thanks to more jobs now offering remote working arrangements.
Plus, we have lots of fantastic cafes and restaurants around where you can still order a delicious smashed avocado dish, but it will probably cost you less than $22.
If you live in Sydney currently and would like help with finding a property in Mudgee, contact the team at Professionals Mudgee Real Estate.