Would you pay $7 million for this? Humble two-bedroom suburban home in Melbourne is on the market for 30 TIMES more than what it sold for in 1999

  • A modest two-bedroom Melbourne home that sold for $206,000 in 1999 is back on the market for $7million.

The value of the Box Hill house, which sits 14kms east of Melbourne‘s centre, has risen by more than 3,000 percent in almost 20 years.

The 762sqm property at 1 Rodgerson Road is a prime investment for builders and developers, according to Realestate.com.

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It sits on 762sqm of land and is within the Box Hill Residential growth zone, offering opportunity for the site to be developed in a high-rise project or as student, business or medical accommodation.