Lamb Island
Lamb Island is
a small red clay island of approximately 1.13km². It
has a variety of country types, from coastal Eucalypt forest
with rich red volcanic soils to Wallum forest and melaleuca
wetlands. The island is fringed with mangrove forest and tidal
mudflats that provide a rich ecosystem for both invertebrate
and vertebrate fauna. Needless to say the fishing and crabbing
can be good. It has a permanent population of approximately
600 (427 residents in the 2011 census) As at July 2013, Lamb
Island had 673 properties issued with valuations by the Department
of Natural Resources and Mines. Of these approximately 323
had private dwellings constructed upon them. With advancements
in communication and information technology, people are increasingly
choosing places like Lamb Island to live and work from home.
In line with other
locations, Lamb Island real estate took a hit during the Global
Financial Crisis of 2008, bottoming out in mid-2011. Values
remained fairly level, but in that time the Southern Moreton
Bay Islands, including Lamb, saw a significant increase in
both building activity and population. More and more people
were starting to realize the benefits of Island life and Redland
City Council were finally starting to pump money into much
needed infrastructure.
Now finally the
Banking sector are making investment into the Southern Bay
Islands, including Lamb Island, a little more realistic with
less stringent loan to valuation ratios. Since the last quarter
of 2020, we have seen a marked increase in value for the better
situated real estate. Where else in South East Queensland
can you buy a block of residential land for under $70,000.
And if your clever, and have a $40,000 deposit, you can then
build a house of your own design for under $240,000 in total.
After it is all finished, painted, landscaped with concrete
paths, a driveway, fenced etc, if you wanted to go travelling,
you could potentially rent it for $260 per week. It makes
good positive sense to me and is a great way for young people
to get into the property market.
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