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Australia Property | Cheapest Residential Land in Australia
By property | November 3, 2008
There is a secret hidden in South East Queensland Australia. This secret is called Russell Island. Situated just 20 minutes off the coast of Brisbane (Australia’s Third largest city), and within commuting distance of the Brisbane CBD, is an island paradise.
The biggest secret is that land over here sells for around $65,000. Looking east we have beautiful views of North Stradbroke Island and looking south you can enjoy the magnificent views down Canaipa channel all the way to the Gold Coast.
Now with about 1000 people a week moving to South East Queensland for the weather and relaxed life style it is only a matter of time before this secret is out. Vacant land adjacent to Russell Island but situated on the main land sells for a minimum of $300,000. This means that for the inconvenience of a pleasant 15 minute ride on the water taxi, you could buy land at just a fraction of the mainland price.
The last 12 months have seen some major infrastructure coming to the island. These include:
6. An island police station and police residence.
7. Construction of a new soon to be completed shopping centre which will include a super IGA supermarket and half a dozen specialty shops.
8. Construction of a public swimming pool.
9. A proposed $150 Million resort is in its final approval stages.
10. Plans for a $4 Million hotel was submitted to council.
For simplicity purposes I have listed some of the attributes of Russell Island in point form:
• Situated in the fastest growing region in Australia;
• Land sells for around $65,000;
• 15 minutes from the mainland by water taxi running approx. every 30 minutes all day everyday;
• Water, telephone, electricity available;
• Currently septic but Sewerage implementation proposed by council for the not too distant future;
• Bus connection from water taxi to Brisbane center;
• Proposed bridge to Stradbroke Island via Russell Island;
• Water Views to Stradbroke Island and down to the Gold Coast;
• There is a primary school on the island and access to a high school on the main land;
• Many shops including corner stores, hardware, bottle shop, bowls club, doctor, Service
Station, chemist, library, gym, etc;
• 10 minutes by small boat to the beautiful sandy beaches and open surf of North
Stradbroke Island;
• Population is about 4000;
• Largest of the Southern Morton Bay Islands approximately 11km long.
With housing affordability at crisis point in Australia this is an ideal place for people to enter into the market and choose to build now or hold on for future capital gains. This means that there is no excuse not to enter into the property market.
russellisland.com.au has a wealth of information about Russell Island
including property listings, photo album and an updated local news page.
See more properties in: Australia Property | 1 Comment »
Tags: Australia properties, Australia property, Australia property for rent, Australia property for sale, Australia property investment, Australia real estate, Australia real estate for rent, Australia real estate for sale, North Stradbroke Island property, Queensland Australia property, South East Queensland Australia property
November 3rd, 2008 at 6:59 pm
Before people don their rose tinted sunglasses and rush out with their cheque books in hand, I suggest that they do a reality check on the http://www.bayjournal.com.au website.
Security parking on the mainland costs $850 per year and there is a three year waiting list. Redland City Council has just announced that they will be removing all free parking within walking distance of the Ferry terminal and charging up to $9 per day.
Russell, Macleay, Karragarra and Lamb islands have seen many positive changes in the last few years but are still unsewered, a vast number of roads are unsurfaced and we have limited services and employment on the islands.
Russell is 20 minutes from Redland Bay–not Brisbane–by fast ferry but more often 35 minutes via the other islands. A weekly commute to Brisbane CBD will take up to two hours from home. The public transport option will cost $60 per week for the ferry and $50 per week for the bus. Bus services are improving but many destinations within the Gold Coast and Brisbane are not a practical commute. The ferries are now standing room only at peak travel times.
But, believe me, after living on Russell for six years, it is a great place to live with an extraordinary community. Just be aware that paradise has its price.
Lee Shipley, editor BayJournal