Estate Agent says people could buy a house if they stopped buying Greggs

DM & Co. Homes shared a TikTok video online, showing their calculations and claiming that by cutting the baked goods, customers could save as much as £10,000

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A West Midlands estate agent has claimed that by cutting out Greggs pasties in the morning, people can save up enough to put down a deposit for a house.

DM & Co. Homes shared a TikTok video online, showing their calculations and claiming that by cutting the baked goods, customers could save as much as £10,000.

Their maths took the assumption that on average a Greggs customer would spend £5 a day on their food.

This turned to £35 over the course of a 7 day working week.

Over a year this sum amassed to £1,680, and over a five year period it totalled a whopping £8,400.

Enough, they say, to put down a 5% deposit for a £175k property.

It received mixed reactions from viewers online.

One user commented: “Every penny you’ve ever spent could have been saved and added to your deposit, but humans buy things. So this doesn’t work.”

Another said: “I’d rather Greggs than a house. Besides it’s £2.40 for a bacon roll and coffee.”

The company has posted several videos breaking down how by cutting out everyday purchases users can save to buy property.

In another post they say by not buying a £3 meal deal five days a week, consumers can save £3600 over five years and put the money towards buying property.

Recently, Kirstie Allsopp received backlash online after comments she made about young people buying property.

The Location, Location, Location presenter boasted to The Sunday Times that she bought her first home when she was 21 with the help of her family, and suggested young people should move up to the North of the UK if they wanted to get onto the property ladder.

She said: “It is difficult, if you were born down south, and have family down south, my life is down south, but if we want a family house we have to move…

“If I had any roots further north and I was trying to buy [I'd do it].”

She went on to share that she was “enraged” to hear people claim they cannot afford a home.

The average price of a house when Allsopp made her purchase was £112,000 when adjusted for today’s inflation.

That is nearly half the price of the average UK household today.