Menzies was well into his second stint as PM, nearing the end of his 18-year record term as Australia’s leader. The Beatles had well and truly made everyone lose their minds. They had two ear-worms at number 1 and 2 Down Under, with “I want to hold your hand” and “She Loves You” the top two singles bopping from most kitchens and discos. These tunes helped all the more on by the invention and release of the cassette player that year. 1963 was a great year for beginnings and it’s also the year that a 33-year-old woman moved into 55 Tyrell Street, Nedlands, Perth.
From that year, when Lawrence of Arabia cleaned up at the Academy Awards, and Australia was sitting at around an 11 million population, 55 Tyrell Street has been owned and occupied by the same lady. Having moved in potentially to the exuberant northern lilt of Sir Paul McCarthy, the owner-occupier is likely to be singing with just as much gusto all the way to the bank. 55 Tyrell Street has just sold for A$2.7 million in July.
According to the Australian Bureau of Statistics, in 1970, houses in Perth were selling for around A$17,500, it’s very likely that in 1963 55 Tyrell sold for under this threshold. Scooting forward 62 years, and the evidently much-coveted Californian bungalow went through a buzzing auction. An over 70 strong crowd bore witness to the once in a generation change of hands.
Listing agent Thomas Wedge comments that, “it was an emotional day”. After the fan-fare of the bidding was over, and the A$2.7 million price tag secured, Wedge asked the 95-year-old vendor what she planned to do now. She simply replied, “start thinking about my future.”
While she may not be able to contribute to the backing vocals of the Beatles or Elvis’ “Return to Sender” (no.9 in 1963), it’s very likely that at 95, the vendor of 55 Tyrell Street, Perth, will be singing a very sweet tune all the way to the bank.
She also shared that a core part of her future is looking forward to being reunited with family. With an older sister in residential aged care, the vendor plans to become a resident at the same centre to spend more time together.
While a happy result for the nonagenarian, the sale price of 55 Tyrell street, Perth, brings to the fore the issue of housing affordability for those without means, both young and old alike. With windfalls such as this instance highlighting seniors with significant means, there is an even greater impetus for the Government, and all leaders in the aged care sector, to get the pricing models of residential aged care right ahead of the implemented reform Act.
Inherent in Australia’s ‘fair dinkum’-ness is that those with means should contribute more than those with less. For an equitable future for each generation of Australia’s seniors, the right balance will need to be struck to ensure long-term sustainability across the sector.
