23 August 2017

Rangewood – Top Price Property Of The Week – 2 Raja Aho Road – $720,000


This week’s winner – 2 Raja Aho Road Rangewood
Rangewood has become a haven for couples and families as an estate in the Alice River suburb that offers the freedom and security of larger size blocks.
The neighbourhood of just over 1000 residents and 376 dwellings has on average 4.1 persons occupying 308 of the total number of dwellings in the Rangewood estate. This is representative of mum, dad, the two kids and most likely a pet.
As a location that has acreage lots, it provides the semi rural lifestyle that attracts above average prices because the value attained from such a country feeling set on the urban fringe of Townsville City brings with it the conveniences of schools, shops, entertainment and community infrastructure to the bush.
Modern day campers that love the outdoors and the adventure of horse riding, motor bike riding, or the simple serenity of nature; clean air, clear skies and open spaces, understand the value of functional contemporary appliances and amenities.

Properties like this Peter Breen built; large 4 bedroom family home with all of the modern features positioned on a 1-acre block is an excellent example of the profile of dwellings being presented on the Townsville market.
But this property represents the freedom of Australian’s natural attraction to the bush and “outback” while being securely linked and integrated with urban and suburban infrastructure.
Rangewood offers the best of both worlds for the sophisticated and middle class of Australia because the 2016 Census shows that 36 percent of all residents either attend university or private secondary education facilities.
Image: Front View of 2 Raja Aho Road Rangewood
Photo: Remax Lyn and Rohan
The vendors and agents have achieved an excellent result getting this property to TREN’s Winner of the Top Price Property of the Week with a sale price of $720,000. In the face of what many commentators and the researchers have confirmed, the market for sellers has been very tough indeed.

Property estate agents, Lyn Griffith and Rohan Banning from Remax said; “the property went to auction first and that in a better market the property would have sold for a lot more. The property was a very high-quality property,” Ms. Griffith said.
The property

The award winning agents described the property as a “stunning family home on a block with 4 large bedrooms; separate study, 3 living areas under 418sqm of roof area on a 4039sqm block”.
“The ultimate in style, sophistication and space, this fully air conditioned spacious home has been finished to an extremely high standard, is ultra modern yet practical and includes all of the extras that will take your breath away.
Quality built just 7 years ago by Peter Breen; the home includes many luxurious features but most importantly offers comfortable family living in a stylish and sophisticated environment.
Set on a large fully irrigated and lush 4039 sqm allotment within the serene surroundings of Rangewood Estate, it offers a rural lifestyle within the city limits!
Image: Pool View of 2 Raja Aho Road Rangewood
Photo: Remax Lyn and Rohan

The list of features include;

* 4 large built in bedrooms
* Separate purpose built study
* 2 gorgeous bathrooms
* Fully air conditioned (split systems plus ducting throughout)
* Central kitchen with quality Siemens appliances (induction cooktop, 2 ovens, microwave), generous storage, granite benchtops, large island bench, walk-in pantry and feature cupboards
* Open plan living and dining area
* Separate theatre room
* Separate games room
* Fully tiled and Crimsafe enclosed entertainment area
* Lush expansive gardens and lawns
* Huge free-form in-ground pool
* Bore and pump with auto-start switch, connected to pop-up sprinklers
* Solar power (5kW)
* Stunning design and décor
* Quality tiles to main living areas and quality carpets elsewhere
* Five (5) car lock up garage plus additional off street parking
* Internal laundry and extensive storage areas
* Master suite has walk in robe and ensuite
* Crimsafe security screens throughout
* Built in generator switch
* Limited neighbours
* Electric front gate
* StarServe entertainment system
The first thing that catches your eye as you enter through the feature front door is the stunning oversize tiles on the floors, which feature throughout the main living areas. The finish is luxurious and this quality theme continues throughout the entire home.
The centrepiece of the main living area is a magnificent kitchen which is conveniently located and overlooks the pool area, backyard and rear entertainment area. It features ample granite benchtops, a large walk in pantry and plenty of storage cupboards and drawers.
There is also a massive tiled ‘games room’ located at the rear of the home. This opens onto the entertainment area and is connected to the main living area. It has many uses – you just need to decide what works best for you!
The master suite is special and includes a large walk in robe, oversized bedroom and a stunning en-suite finished in modern tones. This entire suite is very privately located on one side of the home which ensures peace, quiet and privacy when you require it.
The garage is incredible, with 2 x double and 1 x single remote control panel lift doors, and a neat epoxy resin finish, there is also extra workshop space for the enthusiast! In addition to the 5 garage spaces, the extensive driveway offers parking for even more cars.” Ms. Griffith and Mr. Banning said.
Investment Profile

The estate of Rangewood consists of a micro-population of 1057 residents, which is part of the Alice River suburb with a population of 2,425.
The Rangewood population has an average weekly income per person of $707, on average families earn $2,064 and households earn $1,946 per week based on the 2016 Census. 21 percent of residents earn more than $3,000 per week in income.
Click on the image to get your copy here
Due to the relatively low volume of house sales of approximately 10-12 per annum, the estate experiences high volatility in median prices from month to month.
The estate has a current median house price of approximately $450,000. While just twelve 12 months ago, the estate recorded a median house price of $530,000. The decline in median price represents an approximate drop of -25 percent for the estate, which is close to where the median price was for the estate. In 2011, the median house price was an approximate $450,000 also.
Rangewood has no unit or separate unit dwelling stock. In August 2016, the estate had just 376 private dwellings. 100 percent are separate houses. 62.4 percent have 4 bedrooms and 33.2 percent of dwellings have 3 bedrooms. The balance of dwellings is 5 or 2 bedroom houses.
57 percent of dwellings in the sprawling suburb are owned with a mortgage, while just 5 percent are rented and 37 percent are owned without a mortgage. Rangewood is a very popular location for families, comprising 88.6 percent of all households.
Based the 2016 Census, the median rent in Rangewood for houses was $400 per week. Due to the low volume of rentals, no reliable data is available to determine a rental yield.
The average mortgage payment per month in the estate is $1,950. And again, over 89.2 percent of households with a mortgage spend less than 30 percent on mortgage payments per month. Achieving a sale price of $720,000, the weekly top price property at 2 Raja Aho Road Rangewood will impact the median sale price for the area as it is $270,000 above the current median sale price for houses in the estate.
The Townsville market is showing signs of a recovery on the back of increased business confidence, development stimulation and industry investment. The vendors purchased the property as block of land or a house and land package in February 2008. The land purchase price was 270,000. The house was built by Peter Breen who is also the builder for Jazz Homes in Townsville. The cost of the build is not available.
The demographic profile of Rangewood is dominated by families; elderly and established that make up 81.7 percent of the population. Older retirees make up approximately 9-10 percent.
The suburb is approximately 7-8 kilometres from three combined sex private schools and two state schools for primary and secondary students. The James Cook University, Townsville Base Hospital and Lavarack Army Base is approximately 10-15 minutes drive from this property.
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