Sawtell block a bargain in 1960
WHEN it comes to real estate, “location, location” is said to be the key but a story doing the rounds in Sawtell shows there’s a lot to be said for the timing of a property purchase as well.
The receipt pictured, which has resurfaced after 50 years, tells an amazing story.
Made out by a Mr Roy Knight, Sawtell real estate and commission agent, to Mr Ross Watts, it documents the sale of two blocks of land on November 19, 1960.
The sale price was 50 pounds (the equivalent of around $100) for two lots in May Street, a few blocks from Sawtell’s main beach opposite the school. Even though 50 quid was regarded as a big sum in its day, the receipt has had more than a few locals shaking their heads in disbelief.
The purchaser of the land, the late Mr Ross Watt, is the father of local police detective Peter Watt.
It was brought to The Coffs Coast Advocate’s attention by Steve Hutchinson of Brown and Hurley, after it was found among some old family papers.
“Looking at this receipt, you would have liked to have had a spare 100 pounds back in those days – if you did, you’d be sitting pretty today,” Steve said.
Checks with local real estate agents show just how much money can be made in bricks and mortar.
Two recent house sales show the value of a four bedroom home on a 500-square metre block in May Street would today fetch between $380,000 and $550,000.