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Braddon, Kingston ... Oaks Estate? Hot spot out of hiding

The much-maligned border suburb of Oaks Estate is not usually linked with the affluent and bustling areas of Braddon, Kingston and Downer.

But a new investment report compiled by RP Data has listed the suburb as one of seven hot spots in the ACT on track to double in value within a decade.

Oaks Estate resident John Carr thinks the trend is justified. He describes the suburb as "a really lovely spot", having moved there four years ago from Canberra's inner-south.

"It is definitely more connected than your standard suburbia. I feel like I've got stronger relationships [here]," he said.

Neighbour Dr Karen Williams, who lives opposite, also sings the praises of the area.

"I've been here since 1987 and as far as I'm concerned, Oaks Estate has always been Canberra's best-kept secret," she said. Both residents point to the heritage aspects of the area and the Molonglo River at the end of their street as a huge attraction.

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Dr Williams says the community embraces public housing too, of which there is a high proportion, but said occasional "stupid" behaviour attracts publicity, then "that person moves out and we're left with the bad brand".

While she admits Oaks Estate is isolated from Canberra - it is separated from Queanbeyan by the ACT border and a railway line - it is two minutes' drive from the big supermarkets and is in the catchment area for schools in Queanbeyan, Narrabundah as well as Telopea Park School.

"Once [people] actually step foot [here] the general comment is 'oh, I've been in Canberra 25 years, I've never been to Oaks Estate - isn't it a wonderful place'," Dr Williams said.

"The depth of heritage, of community that is here - you can feel it in the air, it just needs a bit of TLC."

Oaks Estate - along with Braddon, Campbell, Downer, Deakin, Kingston and Lyons - has been listed among 263 suburbs in the nation that have recorded large increases in growth during the past five years.

If this trend continues for the next five years the areas will have doubled in value by 2018, the report states.

The RP Data Autumn Investors Guide to Australia was based on analysis of the performance of every suburb in the country during the past five years, from February 2008 to February 2013.

RP Data senior research analyst Cameron Kusher said an average annual value or rental price growth of 7.2 per cent would lead to a doubling in value over a decade.

He said while the data did not predict suburbs that would definitely double, it gave an indication of the areas in Canberra that were on track to record this growth.

"Generally speaking they're in well-established suburbs but they've got an emerging unit market that's continued to grow over the past few years," Mr Kusher said.

While the ACT did not have a single suburb recording 7.2 per cent in rental price growth, seven suburbs did register this level of growth in home values.

These were Deakin units (19.8 per cent), Braddon houses (11.2 per cent), Campbell units (10.7 per cent), Downer units (10.6 per cent), Kingston houses (8.1 per cent), Lyons units (7.2 per cent) and Oaks Estate units (7.3 per cent).

Mr Kusher said while Canberra's market was weaker than other capital cities there were still investment opportunities if people targeted capital gains rather than rental growth.