The Suburb That’s Thriving as Cost of Living in Other Areas Continues to Increase
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The cost of living has significantly increased in recent years, impacting many Australians. But it’s a different story for the residents of the Sydney suburb of Double Bay.
Double Bay is home to some of the richest in Australian society, and it’s not hard to see why. The eastern Sydney suburb has a median house price of over $5 million. According to figures released by the Australian Taxation Office in 2021, it is the highest-paid suburb in the country.
One journalist from news.com.au took it upon herself to report on how the top one per cent are holding up amid inflation and rising grocery prices.
The elite and wealthy are unaffected by the rising cost of living, as revealed by journalist Mary Madigan in a series of facetious interviews with the locals of the Sydney suburb.
‘It’s hard to be worrying about pinching your pennies when your handbag is filled with credit cards,’ the journalist wrote.
The journalist headed to the luxury suburb to see how everyone felt about the prospect of cutting back on some activities or giving up items to help with their budgets.
‘Could they still afford to get their Mercedes serviced? Would they need to pull their children out of their $40,000 a year private schools?’ These are the questions Ms Madigan sought to answer.
According to Ms Madigan, a glance at the hub next to the Woolworths that ‘has a walk-in cheese room’ revealed that they were thriving. She also said that the shops were adorned with linen and designer handbags, and the cafés were ‘buzzing’ and filled with people who reeked of money.
After a series of tries, Ms Madigan finally convinced a total of four people to chat with her. And out of those four people, she noted that none of them were ‘particularly phased’ by the cost-of-living crisis.
‘When I asked one woman if she felt the cost of living had impacted Double Bay, she practically snorted in response and said, “No, everyone’s rich here.”’
Another man joked that he was worried about his superannuation getting taxed but claimed that he still had $2.9 million.
‘I’m buying everything, but it’s costing me more,’ the man added.
It was reported that thousands of Australians with more than $3 million in superannuation would no longer receive tax breaks under a new proposal announced by Prime Minister Anthony Albanese.
One woman claimed she had to stop giving treats to her 21-week-old puppy. ‘But she adapts. You know, like people also adapt,’ she added.
The same woman said that she still has her routine. ‘It really hasn’t stopped, but you know, I have to watch what I’m doing, just like everybody else.’
This report comes after TV presenter Lara Vella took a tongue-in-cheek swipe at Double Bay residents in a series of interviews for The Today Show. A clip of the report was shared on the official social media page of the news program.
‘It’s tough out here on the streets of Double Bay this morning,’ she said in the video.
‘You know the community, they are counting their pennies, they are counting their stacks of hundred-dollar bills that they have strategically placed throughout their penthouses and mansions in case of emergency,’ she added.
‘This is basically a class warfare, and let’s face it, no one likes it when the rich are the targets, do they?’ She continued.
Ms Vella then interviewed a local café worker to ask how the rising prices affect their business.
‘People are very despondent. They’re going to be ordering less coffee now, and they’re not sure how they’re going to get through their day,’ the café worker explained.
Without missing a beat, the reporter asked: ‘How are they going to pay for their almond lattes?’
In a serious tone, the café worker said the locals would have to sell some of their properties.
She interviewed another resident right after.
‘What are you going to do? Are you going to have to sell the second Mercedes?’ Ms Vella questioned.
The man seemed to think briefly before saying, ‘No, not the second Mercedes.’
‘It’s my third boat. It’s my daughter’s favourite. It’s grim, but we’ll have to consider it,’ he quipped.
You can watch the full interview below:
The interview went viral online, with many poking fun at the plights of the elite.
‘Let’s start a GoFundMe for the people suffering in Double Bay,’ one wrote.
‘A minute of silence for the third boat, please,’ another commented.
Someone sarcastically replied: ‘No! Not downgrading to an Audi! The humanity! Will no one do anything to help these poor Aussies?’
Meanwhile, ‘normal’ Aussies are cutting back on groceries and other essential items to stretch their budgets further. Some have stopped buying certain fruits, while others had to cut back on fruits and vegetables all together and were generally shopping less.
‘Stuff is just way too expensive. I no longer do a weekly shop. I just do it every now and then, and only what I need for the next few days,’ someone said. You can read the full report here.
Have you had to cut back on grocery items? Let us know in the comments below.
Double Bay is home to some of the richest in Australian society, and it’s not hard to see why. The eastern Sydney suburb has a median house price of over $5 million. According to figures released by the Australian Taxation Office in 2021, it is the highest-paid suburb in the country.
One journalist from news.com.au took it upon herself to report on how the top one per cent are holding up amid inflation and rising grocery prices.
The elite and wealthy are unaffected by the rising cost of living, as revealed by journalist Mary Madigan in a series of facetious interviews with the locals of the Sydney suburb.
‘It’s hard to be worrying about pinching your pennies when your handbag is filled with credit cards,’ the journalist wrote.
The journalist headed to the luxury suburb to see how everyone felt about the prospect of cutting back on some activities or giving up items to help with their budgets.
‘Could they still afford to get their Mercedes serviced? Would they need to pull their children out of their $40,000 a year private schools?’ These are the questions Ms Madigan sought to answer.
One Sydney suburb is thriving amid the rising prices of groceries. Credit: energepic.com/Pexels
According to Ms Madigan, a glance at the hub next to the Woolworths that ‘has a walk-in cheese room’ revealed that they were thriving. She also said that the shops were adorned with linen and designer handbags, and the cafés were ‘buzzing’ and filled with people who reeked of money.
After a series of tries, Ms Madigan finally convinced a total of four people to chat with her. And out of those four people, she noted that none of them were ‘particularly phased’ by the cost-of-living crisis.
‘When I asked one woman if she felt the cost of living had impacted Double Bay, she practically snorted in response and said, “No, everyone’s rich here.”’
Another man joked that he was worried about his superannuation getting taxed but claimed that he still had $2.9 million.
‘I’m buying everything, but it’s costing me more,’ the man added.
It was reported that thousands of Australians with more than $3 million in superannuation would no longer receive tax breaks under a new proposal announced by Prime Minister Anthony Albanese.
One woman claimed she had to stop giving treats to her 21-week-old puppy. ‘But she adapts. You know, like people also adapt,’ she added.
The same woman said that she still has her routine. ‘It really hasn’t stopped, but you know, I have to watch what I’m doing, just like everybody else.’
This report comes after TV presenter Lara Vella took a tongue-in-cheek swipe at Double Bay residents in a series of interviews for The Today Show. A clip of the report was shared on the official social media page of the news program.
‘It’s tough out here on the streets of Double Bay this morning,’ she said in the video.
The TV presenter did not hold back on her jabs. Credit: thetodayshow/TikTok
‘You know the community, they are counting their pennies, they are counting their stacks of hundred-dollar bills that they have strategically placed throughout their penthouses and mansions in case of emergency,’ she added.
‘This is basically a class warfare, and let’s face it, no one likes it when the rich are the targets, do they?’ She continued.
Ms Vella then interviewed a local café worker to ask how the rising prices affect their business.
‘People are very despondent. They’re going to be ordering less coffee now, and they’re not sure how they’re going to get through their day,’ the café worker explained.
Without missing a beat, the reporter asked: ‘How are they going to pay for their almond lattes?’
In a serious tone, the café worker said the locals would have to sell some of their properties.
She interviewed another resident right after.
‘What are you going to do? Are you going to have to sell the second Mercedes?’ Ms Vella questioned.
The man seemed to think briefly before saying, ‘No, not the second Mercedes.’
‘It’s my third boat. It’s my daughter’s favourite. It’s grim, but we’ll have to consider it,’ he quipped.
You can watch the full interview below:
The interview went viral online, with many poking fun at the plights of the elite.
‘Let’s start a GoFundMe for the people suffering in Double Bay,’ one wrote.
‘A minute of silence for the third boat, please,’ another commented.
Someone sarcastically replied: ‘No! Not downgrading to an Audi! The humanity! Will no one do anything to help these poor Aussies?’
Meanwhile, ‘normal’ Aussies are cutting back on groceries and other essential items to stretch their budgets further. Some have stopped buying certain fruits, while others had to cut back on fruits and vegetables all together and were generally shopping less.
‘Stuff is just way too expensive. I no longer do a weekly shop. I just do it every now and then, and only what I need for the next few days,’ someone said. You can read the full report here.
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