Family praised by neighbours for rejecting £26 million from developers for house

Most people would be thrilled to receive a multi-million pound offer to buy their home, often leaving sentiment by the wayside in exchange for cold, hard cash. However, Australian homeowners the Zammit family are one of the few that aren't willing to part with their property despite the huge sum of money being offered to them by developers.

The Zammit family refused an offer of $50 million Australian dollars (roughly £25 million British pounds) to part with their Windsor Castle-style home, refusing to make a counter offer and continuing to live in their family residence.

Due to the neighbourhood being renovated by developers, the property now stands out against all the new builds which circle it, but the residents are refusing to succumb to the developers demands.

The rather impressive property is located just 40 minutes away from the centre of Sydney and has a 650-foot driveway with a panoramic view of the Blue Mountains. It truly is breathtaking.

The family have been praised by neighbours for not giving in to financial temptation and continuing to live amongst their five acres of land.

The new-build estate is located in The Ponds area near Quakers Hill. A local estate agent, Taylor Bredin has praised the family for sticking to their guns.

Bredin spoke to 7News, saying: "The fact that most people sold out years and years ago, these guys have held on. All credit to them."

He then suggested that the land could accommodate around 50 new houses. It's no guess as to why the developers are so keen for the Zammit family to sell up and leave their land behind.

Though the family are happy to still have their home, they've mentioned how the suburb is unrecognisable compared to what it was when they bought the property a decade and a half ago.

"It used to be farmland dotted with little red brick homes and cottages,' explains Diane Zammit, 50, to Daily Mail Australia.

"Every home was unique and there was so much space - but not any more. It's just not the same."

One neighbour said: "I'm very happy they've refused to sell - it means we have a cul-de-sac which is much safer for our kids - and their big lawn next to us makes it feel like we've got so much space.

"Our neighbors don't get that because the other houses are so close together. We're very grateful! I hope they stay."