Riverfront units proving an attractive investment - report
UNIT developments on Rockhampton's riverfront are proving attractive to both local and non-local investors, according to Herron Todd White's latest property report.
It shows buyers can get a two-bedroom, two- bathroom apartment at The Edge, Empire or Southbank on Victoria for between $420,000 and $450,000, with a reported yield of about 4.5%.
The Empire and Southbank developments are both set for completion by the end of the year.
The Herron Todd White July 2014 Month in Review and National Property Market Report says there are numerous opportunities in the Rockhampton region for investors and owner- occupiers with a lazy half million to spend.
In areas including The Range and Wandal, $500,000 will buy a renovated/partially renovated larger dwelling with four-plus bedrooms.
These properties are generally bought by owner- occupiers, given the area's easy access to schools, shops, hospitals and Rockhampton Airport.
Within new and developing estates on the city's north side, including Forest Park and Paramount Park, sales at the $500,000 mark are generally four-plus bedrooms.