A MODERN Doncaster home has fetched $2.4 million under the hammer, delivering a windfall of more than $1 million in 12 months.
A crowd of more than 100 people watched on as three bidders fought over the five-bedroom home at 21 Rhonda St.
The bidding war started at $1.6 million and was declared on the market at $2.19 million.
The property was sold to developers in October last year for $1.225 million, but the home was partly finished from a large-scale extension and renovation.
It sold in 2007 as a basic three-bedroom home for $452,500.
Barry Plant agent Ericka Wong said quality homes like it were in high demand.
“I think the Doncaster market has been sleepy for a while but in recent times we have seen a flow-on from the Boroondara area,” she said.
She said the schools, shops and proximity to the city were very appealing to buyers.
Ms Wong said there weren’t too many properties on the market of that calibre, but there was plenty of new developments, especially townhouses, popping up in the area.
More than 100 groups inspected the home during its campaign.
The financial cost of the extension and renovation was undisclosed.
- Renovations done well are not only a personal touch on an existing home but a great financial opportunity
- There are a huge amount of options for transforming a home; Take for example our renovation at Websters Rd, Templestowe where we cleared some space in the entrance to give a grand feel.