Cairns, 15th April, 2015 – Whether you are looking for an investment rental property or a desirable place to live in the Cairns environs, Caravonica is a top pick.
The leafy precinct 11km west of the city centre is scooping the pool in terms of yields for rental and own home investment properties.
The leafy precinct has been named in the RP Data March suburb report as being one of the three top suburbs in Cairns to own an investment home.
It has the highest rental return in the city, boasting an average of 6.8 per cent yield in the past 12 months. The next closest suburb recorded a 6.2 per cent yield.
The average rent is $465 with a median house price of $365,500.
The good news for investors comes on top of the Real Estate Institute of Queensland’s March report, which said Caravonica was last year one of only 49 suburbs in the whole of Queensland in which every single vendor in the suburb made a profit on their sale.
Undeniably fuelling the desirability of the suburb is the quality Red Peak Forest Estate residential development.
Red Peak Forest Estate director Anthony Oberdan said Caravonica was an attractive option for a balanced, mixed community, from young families through to retirees.
He was not surprised by the latest figures showing the desirability of Caravonica for investors and residents, noticing an increase in the number of enquiries for their development from locals and people from interstate and overseas.
Mr Oberdan believed the key to the success of Red Peak Forest Estate was their commitment to quality development and the protection of the location’s natural beauty.
“Every last detail of Red Peak’s design, which incorporates open parkland and lake precinct, walking paths and sweeping curved roads, has been carefully planned and thought out.
“Our family have put their heart and soul into everything you see here today,” he said.
“A quality development in the midst of natural beauty, while being just minutes from Lake Placid, 10 minutes from the airport and 15 minutes to the CBD adds up to plus, plus, plus,” he said.
For more information contact Anthony Oberdan on 07 4039 0811 or email [email protected] home.