Armed with an avocado, Greens Senator Peter Whish-Wilson called on Treasury Secretary John Fraser in the Senate estimates to weigh in on young people’s brunching habits.
It came after an article published in The Australian at the weekend claimed that millennials were shut out of the housing market because of their love of $22 smashed avocado on five grain toast.
“I understand the issue, but I prefer people to start talking about the exorbitant price of coffee in Melbourne. It’s got to be the highest in the world," Mr Fraser joked.
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He went on to explain that the “massive issue” of housing affordability is one that is experienced by all low income earning Australians and not just young people.
While conceding that it is “unfortunate” that millennials have been locked out of the housing market, he believes many are looking to their parents for the solution - and in his experience there aren't "many people who are not saying we've got to help the kids”.
In the past year alone, housing prices in Sydney and Melbourne have risen by 13 per cent. Mr Fraser said that high prices, high wealth, and the fact that people feel comfortable about taking more debt is “a worry”.
However, he identified supply as the predominant issue and key to the solution.
"I think the only thing we can do short-term that is sensible, in terms of the supply side, is facilitating land release, helping with building regulations, getting a proper balance and, of course, productivity in the building sector," he said.
