A caravan is not a property.

A caravan will never appreciate in value.

But a caravan could earn you income from leasing it out to a park operator.

This would be a business not an IP.

And before you think of it as tax dodge think again, alot of hobby concepts were recently deemed by the ATO as non business entities therefore the losses could not be written off against other income.

You should get advice from your accountant.

However there are many caravan parks in NSW (not sure of other states) that the caravan and structure is not really moveable and you own a lease to that site and also the structure on the site, under this situation it could certainly be reasonable to count as an investment property.

But the park fees are not cheap.

your accountant will give you a much better understanding.

Either way enjoy your caravan.