Darren Ashended - Nov 05, 2013 04:09

Is Now the Time to Buy on Russell Island?

In nearly twelve years of living on Russell Island and servicing clients in the real estate industry since 2007 I can’t honestly say that I have seen a better climate for securing a property than we have right now.

When I arrived in late 2001 the market was in a slump and it was possible to find a residential block between $8,000 - $12,000unfortunately I thought there was something wrong with it being so cheap and did not purchase, big mistake… you could also buy a residential home around $90,000 - $140,000. Then around 2004 there was a lift in the market and the land prices increased significantly, there were quite a few prosperous property owners in that period and then again in 2007.

From my research we appear to be in the same position again and are just starting to see signs of coming out of a market slump but you can still secure a residential block of land from around $20,000 and a residential home from around $150,000. These around about figures apply mostly to the entry level market but if you are in a position to purchase you just might find a nice lifestyle property bargain without stretching the budget, doyou think a water front home for under $400,000 would be appealing?

Russell Island is a 20 minute, air-conditioned ferry ride from Redland Bay and offers all the services you need and you are about an hour from Brisbane and the Gold Coast with a major shopping precinct at Victoria Point. It boggles my mind why more people are not checking out Russell Island because as far as I’m concerned we have the most affordable bay side property in South East Queensland. Suitable for families, retirees, weekenders, investors and is particularly suited to the FIFO workers throughout Australia who just want somewhere to chill in their downtime.

Markets are showing signs of strengthening across Australia particularly in areas close to our cities and Russell Island has four of them within easy reach. We have the developing Redland City, Logan City, Gold Coast and our State Capital Brisbane; we have sailing, boating, fishing, swimming and surf beaches within half hour by tinny. Don’t make the mistake of waiting too long and missing out.

© Darren Ashenden
Professional Property Consultant & Licenced Real Estate Agent
Russell Island QLD