A vintage copy of a Sydney real estate guide from 50 years ago shows staggering prices that would make any property investor long for a time machine.
One listing from the 1972 edition of The Realtor posted to Reddit is a three-bedroom Newtown terrace for $10,000 in ‘fair condition’ that ‘needs a coat of paint’
Another listing advertised a redecorated two-bedroom semi at Leichhardt that would have set you back $16,000.
The median house price in Newtown in 2021 is $1.735 million, while in Leichhardt it is $1.815 million.
Vintage ads from a 1972 Sydney real estate guide are enough to make any modern property investor try and build a time machine – one had a three bedroom Newtown terrace for sale for just $10,000
Inner West suburbs close to the city like Leichhardt and Newtown had smaller workers’ cottages in 1972, while prices rose the further west you went
Money is of course not worth what it was in 1972, but even adjusting for inflation shows the astronomical growth of Sydney property values.
According to the Reserve Bank of Australia’s inflation calculator, $10,000 in 1972 is the equivalent of $105,545 in 2020, while $16,000 is just $168,872.
Most of the listings in the 1972 guide for now-popular inner west locations like Newtown, Leichhardt, and Annandale were well under $20,000, suggesting it was realistic to get a home 15 minutes drive from the city for an incredible bargain.
While those suburbs tended towards worker’s cottages at the time, prices were a bit higher in the inner-west locations with bigger homes – like Strathfield, Croydon, Burwood, and Drummoyne.
You could score a ‘magnificent gentleman’s residence’ at Strathfield for just $46,500 in 1972
Anyone interested in property on Sydney’s Northern Beaches knows how expensive and elusive it is in 2021, so the 1972 prices are enough to make any of us wish for the good old days
But it was still possible to score a big home in those suburbs for less than $30,000 in 1972.
The top prices in 1972 were at then well-to-do Strathfield, in the high $40,000s for a ‘magnificent gentleman’s residence’ or an ‘exclusive residence’.
Strathfield and Burwood, though not fashionable suburbs, are among Sydney’s most expensive suburbs today, not counting the Eastern Suburbs which lead the way on prices.
The median house price in Burwood today is $2.31 million, while it’s $2.984 million in Strathfield.
The guide classifies inner-west suburbs from Newtown to Strathfield – all only a short drive to the city – in its ‘western suburbs’ section.
The 1972 Realtor showed stunningly low prices on the Northern Beaches too.
The 1972 Realtor also listed some stunningly low prices for homes at French’s Forest, Beacon Hill, Allambie Heights, Belrose and Wheeler Heights
It was possible to get a two bedroom unit with a golf-course view at Manly Vale for under $18,000 or at Dee Why for $16,500.
Dee Why’s current median house price $2.295 million, while it’s now $3.05 million for Manly Vale.
A three-bedroom unit near Collaroy beach in 1972 was an amazing $19,000, whereas today it would cost between $1.5 million and $2 million.
Heading further north towards the peninsula, in 1972 you could have picked up a family home in Avalon Beach for $21,250 or Newport for $28,500 – which boasted ocean views.
Houses in those suburbs today are worth at least $2.5 million.
The guide also showed 1972 listings for Belrose, Narrabeen and Harbord on the beaches, and French’s Forest, Beacon Hill, Allambie Heights, Belrose and Wheeler Heights also in Sydney’s north side.