Population in Queensland has been increasing by more than 1500 people per week and this has contributed to high demand for real estate. As a result, rents in Brisbane have been increasing by about 15 percent per annum and in the last year house prices have increased by more than 20 Percent bringing the average price of a home to around $450,000.
Despite the huge cost of housing in Queensland there is still an opportunity to buy real estate within the greater Brisbane region at an extremely affordable price. Russell Island has probably one of the cheapest residential lots in the country. Building blocks can be purchased for as little as $65,000 and water view blocks can be bought for around $100,000. Russell Island is situated about 15 minutes by ferry from Redland Bay (near Cleveland in Brisbane). Ferry services are fast and frequent usually running every 30 minutes all day every day, therefore it is possible to commute to the Brisbane CBD daily for work.
Russell Island is part of the Southern Moreton Bay Islands. These include Russell Island, Karragarra Island, Macleay Island and Lamb Island. You can also include North Stradbroke Island in this region.
The Island is extremely picturesque and views include Stradbroke Island to the east and the Gold Coast skyline can be just seen in the distant south. With the perfect weather, blue skies and the crystal blue bay why not take up this opportunity to own a piece of paradise. Russell Island is set to boom so be quick.
