Family Continues To Reject Developers’ Rising Offers To Keep Their Dream Home
A family is refusing all offers to move out of their dream home.
In recent years, a remarkable story has unfolded in The Ponds, a suburb near Quakers Hill, Australia.
Amid rapid development and urbanization, the Zammit family remains defiant in selling their property despite being offered a staggering amount.
The Zammit’s property, which was valued at around $4.75 million in 2012, is made up of five acres.
The home, described as having Windsor Castle-style architecture, boasts a 650-foot driveway that cuts through its expansive lawn.
It is about 40 minutes from Sydney’s central business district and offers breathtaking panoramic views of the Blue Mountains.
Altogether, these factors make the Zammit’s decision not to move quite understandable.
The family’s story has captured public attention, with many taking to social media and sharing their thoughts.
One person writes: “Poor guys. They just want to live in peace.”
Another adds: “If the house has a lot of sentimental value to the owners I can totally agree with their decision.”
“Good for them,” a third comments.
Someone else remarks: “Apparently money can’t buy everything, after all.”
Taylor Bredin, a local real estate agent with Ray White Quakers Hill, also admires the Zammit’s stance.
He tells 7News: “The fact that most people sold out years and years ago, these guys have held on. All credit to them.”
Most of the neighboring land was sold over ten years ago, meaning the home now stands amid high-density houses that press against its fence line.
Bredin estimates Zammit’s property could accommodate up to 50 houses, with each subdivided 3,200-square-foot block potentially fetching a million dollars.
Most recently, the family reportedly declined a $50 million offer for the land – the tenfold increase in value over just a decade underscores the dramatic changes in the local real estate market.
Australian buyers agent Ella Cas tells the Daily Mail that land makes a great investment: “It does 80 percent of the heavy lifting when it comes to capital growth.”
Cas says she’s met farmers who bought land for pennies and are now millionaires.
In an interview with 7News, Diane Zammit shares her memories of the neighborhood’s past, painting a picture of a very different landscape.
She described it as ‘farmland dotted with little red brick homes and cottages,’ adding wistfully: “Every home was unique and there was so much space – but not anymore. It’s just not the same.”
A timelapse video on X, formerly Twitter, shows the property standing firmly amid years of surrounding construction.
This house in Australia has continually rejected offers for purchase, most recently a $50 million dollar offer, per 7News: pic.twitter.com/jCtxOMTCn6
— unusual_whales (@unusual_whales) May 7, 2023
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