SOLD – 86 ACRES – $174

The year was 1858, the first recorded land sale at 185 Old Northern Road at $2 per acre. By 1874, the price had skyrocketed by 250% to $7 per acre (696 Albany Creek Road).

A century later, Peter Campbell Realty was selling building blocks in Allawah Street from $1,800; Albany Forest in 1985 at $25,000; Albany Parkside in 2000 from $70,000 and now, from $250,000.

These days it takes 46% of gross single income to pay the mortgage for a roof over the family’s head – in 2015 I suggest it will take 65%.

No doubt times were tough in 1849 for James and Mary Cash, it took them 9 years just to save the deposit.

And Malcolm Fraser, many years later, echoed the sentiment of Mary Cash, Mum of six and homemaker, when he said, “Life wasn’t meant to be easy”.

Over the years, I have collected historical dates of local sales that show property will never in the future be as cheap as it is today. (8.3% compound growth since 1970).

The Cash properties, however, were forfeited because of non-payment of bills after James Cash died in 1874 of heart failure and those lands came into the ownership of the Eaton, Leitch and Mecklem dynasties.

The moral is, beat the rent trap but ensure the debt is affordable and always insure your risk (life and house insurance; cocktail loans; budgets).

Can you tell me by email to peter@petercampbellrealty.com the address of the only remaining historical house in Albany Creek (built in 1864)?

For helpful property advice from the first agency in Albany Creek, that remains part of the heart and soul of the local community spirit, phone Peter or Matt Campbell – 3264 2311.

PS: Mary Cash died at the age of 89 and is buried at the Albany Creek Faheys Road cemetery.

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Peter Campbell - 0418 774 663