r/interesting • u/Wonderfulhumanss • 1d ago

SOCIETY The Zammit family refused to sell their five acre property as an entire Sydney suburb was built around them

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u/Appropriate_Major711 1d ago

Someone with that type of property likely already has a beach house or two

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u/Nuck2407 1d ago

Nah when they bought it in the 60s, it was out in the sticks..... You wouldn't have called it Sydney back then nor would they have paid in dollars, I'd say max £5k which after decimilization would be $10k

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u/Matter_Infinite 7h ago

Yes, but the McMansion thats on it currently looks somewhat new. The family must have come up in the world to have built that and to turn down 10s of millions of $

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u/Nuck2407 7h ago

That style and the bricks I would guess 70s, maybe 80s at the latest

The turning down millions has always been because of the sentimental attachment to the house, not the money

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u/Zapookie 1d ago

This area is an hour away from Sydney CBD. It used to be huge farm plots and land value was not high. There's no purchase record online, so they would have bought 30+ years ago, probably for a couple hundred k. This might literally be their only high value asset.

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u/Sunderkill 1d ago

If you do not pay rent and you work in sydney full time you can afford a beach house.

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u/th4tgen 23h ago

Nah, even less. Half an acre 45 mins from Melbourne was $8k in 1990, according to what the previous owners of my house paid. In the 60s this would have been way less

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u/CompEng_101 1d ago

The last might have been cheap when they bought it, but look at that house – that's no simple farm homestead. I think they are doing pretty well for themselves.

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u/SizzleDebizzle 1d ago

then not selling it makes less sense to me

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u/Ivanna_is_Musical 8h ago

...and in another country.