This $2.3 million post-war cottage is Adelaide's most expensive sale

A post-war era home in Adelaide with scope for improvement has fetched the city’s top auction sale price on the weekend.

The $2.3 million property at 8 Patawalonga Frontage, Glenelg North, sold under the hammer on July 1, according to Domain’s auctions highlights wrap, and was the fourth-most expensive sale in Australia on that Saturday.

Sitting pretty for a renovation, with features faithful to its build year of 1945, the house is only 50 metres from the waterline, in a suburb where the medium-term price growth has been deep into double digits.

The curvy, art deco porch is positioned to capture marina views, and the price has added $1.1 million in value since it last sold, less than a decade ago.

SOLD - $2,300,000

8 Patawalonga Frontage, Glenelg North SA 5045

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The deal was done by agents from Ray White Paradise.

“Apply the luxury layers to the comfortable 4-bedroom home, or lease it out while you consult council for a multi-level newbuild or multi-dwelling development set to truly capitalise on one of the few remaining, highly prized, and picturesque Patawalonga Frontage opportunities left…” the listing said.

“Whether you splash out on a pool, build up for richer sunsets and a potential sweep of Adelaide skyline, or build out into the cavernous backyard, improving on this ultra-unique bayside investment – it’s not a matter of how, it’s when.”

The four-bedroom house is on a 1016-square-metre block.

Domain’s Property Profile shows the home traded in 2015 for $1.2 million, for $1.06 million in 2009 and $825,000 in 2005.

It has also been a rental for numerous periods.

The median house price in Glenelg North is $915,000, which represents growth of 3.4 per cent over 12 months and 30.7 per cent over five years.

SOLD - $6,000,000

22 Catherine Street, St Ives NSW 2075

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The Glenelg North address was the highest price in Adelaide reported to Domain. The biggest sale, in Domain’s July 1 list of results, was in Sydney – $6 million for a new house in St Ives.

The European-style, five-bedroom home at 22 Catherine Street has lofty ceilings and wainscoting, and a cabana beside the pool.

The deal was struck by Ray White Upper North Shore.

Domain’s national clearance rate on the weekend clocked in at 59.8 per cent.