Here’s What $1 Million Will Buy You In Today’s Property Market — A Run Down Adelaide Shack

A run down Adelaide shack has sold for almost $1 million, in a dire outlook at home ownership that has me wondering if tent living is all that bad.

The derelict building, which sold for $890,000, was built in 1880 and is protected by its heritage status, meaning its new owners cannot knock it down.

Instead, they have no choice but to keep that decaying Victorian facade intact, a truly mammoth task for a building that can actually be seen crumbling and sagging.

What’s more, the only bathroom is a leaky outhouse, currently hidden in the tall grass. You can go for it if you’re brave (or desperate) enough, but personally I think I’d be asking the neighbours first.

The outhouse. I’ll hold it, thanks… Image: Domain.

The listing described the house as having “nostalgic love”, calling it a “last remaining hallmark of the mid-century charm that once swept through the leafy streets of Norwood”.

Can’t we leave draughty mid-century relics in the mid-century where they belong, along with polio and lead paint?

Lots of… natural light? Image: Domain.

To be fair, the house does come with plans to build a modern extension at the back, which provides a living and dining area and two extra bedrooms. However, such construction could be a long way off as a lot of work is needed to get it into a liveable state.

It’s not the only derelict building that has caught the eyes of potential buyers recently either. One of the most clicked on property adverts in Australia last year was this crumbling shack in rural Victoria, which saw more than 29,000 people have a look.

The house eventually sold for $55,000, but will likely cost that several times just to get rid of the rubbish.

It’s clear there’s some deeper problems if such buildings are going for eye-watering costs. If someone needs almost $1 million just to buy a shack – what hope is there for the rest of us?