NSW beachside cottage fetches millions after it was bought for £78 in 1928

PHOTO: The cottage is just metres from the sand at Pearl Beach. (Residential HQ Central Coast)

A humble beachside home on the New South Wales Central Coast has sold for more than $2.5 million almost 100 years after it was first purchased.

The house at 2 Emerald Avenue in Pearl Beach was first bought by Evelyn Smith in 1928 for £78 – equivalent to $145 in modern money without factoring in inflation.

In the early 1960s the property was handed down to Evelyn’s daughter Irene and five years later a three-bedroom cottage was built on the coastal plot of land.

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**The cottage was originally bought in 1928 by the smith family for just £78. (Residential HQ Central Coast)**

**Boasting four bedrooms, the property sold to a young Sydney couple for $2.5 million. (Residential HQ Central Coast)**

Eventually the home was passed onto Irene’s daughter Kim Jones and her family who put the home up for sale via Alana of Residential HQ, helping the property to fetch an eye-watering $2,508,000.

Ms Jones said she was sad to leave their slice of family history behind, but it was the right time.

“We will be sad to say goodbye to such a piece of family history, but the time was right for us to move up to Queensland and pass this little piece of paradise on,” Ms Jones said.