Glenelg bungalow sells for $1.195 million
Adelaide’s most expensive property to sell at auction last weekend was a $1.195 million Californian bungalow in Glenelg.
The 1935-built residence is at 14 Maturin Road, just a few streets back from the beach and Jetty Road attractions, according to Australian Property Monitors.
The sprawling five-bedroom house is 243 square metres in size and features an Art Deco cocktail den. It is on 968 square metres of land and was sold through Harris Real Estate Glenelg.
The house last traded in 2005 for $750,000.
According to RP Data, the median house price for Glenelg, which is 9 kilometres from Adelaide, was $1.2 million in August this year.
However, the statistics show that the suburb sits within a dramatic statistical growth cycle. In 2013 growth in Glenelg was negative 20.8% while in 2012 it was up more than 22% on 2011’s negative growth of 22.5%.
Over five years, RP Data has the suburb’s median house price up by 20%.
