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Overnight millionaires cash in on booming market


 
The house wasn’t much to look at on the inside or the outside.
Sellers in blue-chip Boroondara and Bayside make the highest median profits of $709,750 and $705,000 respectively, according to property data firm CoreLogic.
Those in Manningham, Nillumbik and Whitehorse also pocketed more than half a million dollars on typical sales.
In Manningham, a downsizer who sold her old four-bedroom Templestowe home at 410 Porter Street this month walked away with almost $1m in profit, after five bidders pushed the home $180,000 above reserve to $1.405m.
The vendor of 410 Porter Street, Templestowe, made almost $1m in profit on their original purchase price when it sold under the hammer for $1.405m. ....

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