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Stunning real value of family's house revealed after they turned down $50m from developers who built suburb around their home

Stunning real value of family's house revealed after they turned down $50m from developers who built suburb around their home

The family were offered much, much more that the property's value.

How much would it take for you to sell your family home?

$1 million? $2 million, maybe? Well, one family in Australia evidently feel that their property is priceless.

The Zammit family own a block of land near Sydney and, despite the property now being surrounded by new-builds, they don't plan on giving up their plot to developers anytime soon.

They're making a stand against developers who have offered them a whopping $50 million to vacate their property and sell off their land, with Diane Zammit even telling them to 'keep dreaming' if they think they're getting their hands on her home.

Diane has spoken nostalgically of the ‘farmland dotted with little red brick homes and cottages’, and gushed over homes once being 'unique'.

"It's just not the same," she went on say in reference to all the new properties surrounding her home being identical to one another.

While their home is undeniably lovely, how much is it actually worth?

The Zammit family won't be shifting any time soon.

Well, the property was once up for sale in 2015 and - at the time - 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 Zammit's house was listed for sale in 2015 and 2016.

The Zammits have been 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."

They're definitely stronger than I am.

Featured Image Credit: 7NEWS

Topics: News, World News, Money, Australia