THE RUSSIAN ORTHODOX PARISH OF THE ARCHANGEL MICHAEL, BLACKTOWN

Australian and New Zealand Diocese (Russian Orthodox Church Outside Russia)

contractOn 27 March 1958 there was another milestone in the history of the Church. The elected trustees (trust) of the Building Committee bought land on Kempsey Street. A dream became a reality. The purchase price was £360.
In 1958 the average male weekly earnings was $37.10 (£18 11s) and the minimum wage was $31.80 (£15 18s). (Reserve Bank of Australia – Australian Economic Statistics 1949-1997). As at 30 June 2011 the minimum wage was $589.30 per week (Fairwork Ombudsman).and average weekly earnings $1,305.40 (Australian Bureau of Statistics).
The purchase price of £360 was equivalent to approximately 19.5 weeks of the average weekly male earnings in 1958. This would be $25,455 in 2011. This was an inspired purchase with a very good purchase price. Especially considering that the unimproved capital value of similar land was in excess of $220,000 in Blacktown in 2011. (NSW Valuer General Media Release 24 January 2012).