Doonan offers top property value into the future
BIG blocks and beachside lifestyles are drawing in buyers to take advantage of bargain suburbs like Doonan tipped to boom in the next few years.
Doonan and Twin Waters were named among the top places in Australia to score a bargain, with the expectation of solid capital growth down the track, according to property group RiskWise.
While the average house price for both suburbs sat above $850,000, the research was based around long-term return.
Doonan agent David Berns said the secluded and established land made it a hive for interstate buyers.
With an average house price of $871,189, Doonan was set to record a capital growth of 12per cent in 12 months, 23per cent in three years and 32per cent in five years.
The principal of David Berns Real Estate said it was a "very desired” spot for people from the metropolitan areas.
"Each home is very unique... land isn't available any more and less product is on the market, making it a tightly-held spot,” he said.
After working in the area for 18 years, Mr Berns said he recorded some of the highest sales in the area last year. LJ Hooker Twin Waters agent John Blackmore wasn't surprised with the results, saying the area was an "undiscovered little gem on the Coast”.
Twin Waters was expected to record a capital growth of 8per cent in 12 months, 29per cent in three years and 38per cent in five years.
"It's a phenomenal feat,” he said of its 10th position ranking.
"More people are discovering its potential and that's showing.”
Mr Blackmore said interstate buyers were particularly interested in waterfront properties below their budget.”