Tollroad operator Transurban has steered itself back into profit, largely thanks to the booming property markets in Sydney and Melbourne.

Transurban made a net profit of $81 million for the six months to December 31, a turnaround from its $185 million loss a year earlier when it bought Queensland Motorways. The result was driven by an 8.4 per cent rise in average daily traffic on its network of 12 Australian…