Imagine land values so low that you could buy up the area, if you had the money at that time. It was going to be known as a "Satellite City". Lots of land from $1,000- $2,500 each lot. The article in the Daily, Telegraph, 13th November 1971, was enticing people to move out west, promising: value, expressway, transport, facilities, views, schools and limited sites available. Deposit required $99.
I thank "Memories of Mt. Druitt and suburbs Face Book Group" Click here for details
Compare these house prices to today, a great inflationary increase, same with income and home loan repayments.
Here is some further statistics provided by this group:
- House and land package in 1958 - $6,000
- Adult wage in 1967 $42.00 per week
- Repayments on mortgage was $40 per month at 3% per month
- House and land package in 1967 - $10,000
- In 1975 house prices were $25,000
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