60 Seconds: Tackling housing from down under

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60 Seconds: Tackling housing from down under

G’day

You have to hand it to the Aussies – they have a solution for the housing crisis. And it’s simple – all young millennials have to do is change their diet.

Earlier this year Australian property mogul Tim Gurner urged millennials in Melbourne to stop buying avocado on toast and expensive coffees to save for a deposit.

In an interview he said: “when I was 19, I was in the gym at 6am in the morning, and I finished at 10.30 at night, and I did it seven days a week, and I did it until I could afford my first home. There were no discussions around, could I go out for breakfast, could I go out for dinner. I just worked.”

(Could all staff at Curtin&Co please note.)

Good for him. But going back to the millennials I know, they are working hard and feel they are being prevented from reaping the rewards for which other generations have received.

So it’s not just a question of whether people can afford homes in future, it’s also a question of how we promote aspiration across a whole generation.

We’ve gone from being a “nation of home-owners” to a nation of “home-hopers”.

This week Strutt&Parker echoed Tim Gurner’s comments and told us that by changing a few dietary and lifestyle choices, millennials in the UK could save up the £94,000 needed for the average house deposit in London.

The bad news? It will take approximately seven years of sacrificing sandwiches, takeaways, nights out, mini-breaks and phone upgrades… and that’s if you’re lucky enough to be saving with a partner AND receive 30k from your parents.

Now as my consultants confirm, I am a firm believer in all young’uns working hard and making certain sacrifices to save for a home – we’ve all had to do it (did I mention I was a cockroach exterminator in Harlem, New York?).

But even so, is this what it has come to? Should we be encouraging future generations to live frugally until their mid-thirties just to save for the deposit on a London home? That’s forgetting Stamp Duty, estate agency fees, mortgage payments and actual furniture to go in the house.

And for those of us who have darling children, did any of us think we would have to budget at least £30k to get them out of their teenage bedrooms?

Let’s hope they don’t take it seriously or we’ll have to cash in our shares (if any) in Starbucks and Pret.

Have a great weekend and easy on the avocado.

Tom

If you wish to read the article about Strutt & Parkers’ study click here
And if you wish to read the article about avocados click here


This week at Curtin&Co

This week our very own Martin Curtis took part in the Estate Gazette’s Question Time Panel in Cambridge. The event had a great turnout, and it represented a fantastic opportunity to quiz speakers from the property industry and hear their thoughts on infrastructure and development within City.

The week ahead

Oh what a feeling, building on the ceiling 
This estate agent says 40,000 new homes could be built on London’s roofs

The brick man of Europe 
Sadiq Khan calls for urgent action to stop drain of European builders

Mother Theresa of housing 
Theresa May to renew ‘personal mission’ to fix broken housing market

Potteries for a pound
Stoke-on-Trent Council is selling off homes for £1


Curtin&Co specialises in the fields of Community Consultation and Political Engagement, especially around development, and Reputation & Crisis Management.

Curtin&Co has grown rapidly to a team of over 20 highly qualified political, community engagement and reputation management specialists, having been founded by Tom Curtin in 2009.  In 2016, Curtin&Co was delighted to be listed in PR Week’s Top 150 Public Relations consultancies at number 86 and in the Top 10 Public Affairs consultancies at number 8; a recognition of the quality of the service and growth achieved.

To find out more visit www.curtinandco.com or call Helen Barrett on 0207 399 2288