Since it last sold three years ago, this house has gained $1 million a year

PHOTO: 140 Kooyong Road, Toorak. Marshall White

What housing market slowdown?

A contemporary Toorak home has just changed hands for $3 million more than it last traded for – only three years ago.

The modernist mansion at 140 Kooyong Road fetched more than $13 million for its vendors, listed in title records as Christopher Shao, Luyi Shao and Belinda Yu.

It previously traded for $9.98 million in 2015 when the seller was Popi Agushi, married to developer Bear Agushi, whose company Agushi Constructions built the home.

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