A young property tycoon has hit out at Generation Y claiming they need to stop travelling and spending money on overpriced food if they want to save for their first home.
Tim Gurner, 35, is worth nearly half a billion dollars since buying his first investment property at the age of 19.
The Melbourne millionaire believes it's time his generation change their spending and lifestyle habits.
"When I was trying to buy my first home, I wasn't buying smashed avocado for $19 and four coffees at $4 each," he told Channel Nine's 60 Minutes program.
"We're at a point now where the expectations of younger people are very, very high. They want to eat out every day, they want travel to Europe every year.