Stunning real value of family's house revealed after they turned down $50m from developers who built suburb around their home
A family evidently find their home priceless as they've refused to sell it to developers for millions of dollars.
The Zammit family made headlines across the globe last year after all the surrounding homes in their neighborhood were bought out by a developers - but they refused to sell theirs.
While standing their ground, the houses around them were demolished and rebuilt into a huge new uniform development, ultimately making their property stick out like a sore thumb.
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Despite this and a whopping $50 million offer from developers, to this day the Zammits haven't sold up.
As to how much the home is actually worth, when the property was once up for sale in 2015, it was valued at $858,000 to $945,000, house records on RP Data show.
It only stayed on the market for seven days, Mail Online reports, and went up for sale again the following year for the same price.
But, in the wake of developers wanted to buy their house and land to rebuilt on the plot, the Zammit home hasn't been on the market again.
With the original valuing in mind, the family have been offered more than 50 times the home's value.
It's believed they've been offered such a huge price as the whole plot could house as many as 50 properties, each of which would each be sold for around $1 million.
The Zammits were applauded for standing their ground despite the extremely tempting offer.
One nearby resident said: "I'm very happy they've refused to sell - it means we have a cul-de-sac which is much safer for our kids - and their big lawn next to us makes it feel like we've got so much space.
"Our neighbours don't get that because the other houses are so close together.
“We're very grateful! I hope they stay."
Elsewhere, Taylor Bredin, a real estate agent with Ray White Quakers Hill, told 7News: "The fact that most people sold out years and years ago, these guys have held on. All credit to them."
While they don't look to be budging anytime soon, Diana Zammit has admitted that its very different to how it once was.
"It used to be farmland dotted with little red brick homes and cottages," Diane told Daily Mail Australia.
"Every home was unique and there was so much space - but not any more. It's just not the same."
Niamh Shackleton