Suburb snapshot: Duncraig
Duncraig is probably not on a lot of investors’ radars. But with its undoubted popularity, track record of strong capital growth and older properties ripe for renovation, perhaps it should be.
Duncraig is a popular northern coastal suburb, part of the City of Joondalup. It is located 16km from the Perth CBD and is bounded by Hepburn Avenue to the north, the Mitchell Freeway to the east, Beach Road to the south and Marmion Avenue to the west.
It is generally considered more affordable than neighbouring suburbs such as Sorrento and Hillarys, which are nearer to the coast.
The suburb is separated down the centre by Warwick Road, dividing the suburb into what is locally referred to as North Duncraig and South Duncraig. The southern portion is generally considered more prestigious and expensive.
Duncraig was predominantly developed in the 1970s and early 1980s, and this is reflected in the type of housing within the suburb.
The suburb has an excellent reputation and is extremely popular with families due to its community feel and the host of facilities it provides. On the website Streetadvisor.com.au, Duncraig is ranked the 3rd most popular suburb in all of Perth.
The suburb has a range of high-quality public and private schools, numerous small shopping centres and is just a short drive to major shopping centres such as Whitford City and Karrinyup. There is even a private hospital within the suburb.
A popular feature of Duncraig is its abundant parks and nature reserves, offering a range of family-friendly activities and sporting facilities such as fields, tennis courts and an indoor sports hall.
Duncraig is serviced very well by public transport with numerous bus links and two train stations bordering the suburb.
The Duncraig real estate market offers a range of properties and price points, right up to several million dollars. A typical 4 bedroom 2 bathroom house would generally sell somewhere in the high $700,000s or early $800,000s, and this would be on a block of between 600sqm and 800sqm.
Duncraig has a low proportion of rentals (12.69 per cent) compared to the Perth average and the median rent for a house is around $600 per week.
In terms of capital growth, the suburb has outperformed the Perth average over the past 12 months, 5 years and 10 years.
Within the suburb, there are many older properties suitable for renovation, and the very north of the suburb is subject to a proposed rezoning by the council, which would provide development opportunities.
|Growth rate (1 year average)||7%|
|Growth rate (5 year average)||3.1%|
|Growth rate (10 year average)||9.6%|
|Median age of residents||40|
|Median weekly household income||$1,959|
|Percentage of rentals||13%|
Source: REIWA.com.au, July 2013