Palm Island, located off the coast of Queensland, Australia, presents a unique housing market characterized by its remote island lifestyle and limited availability of properties. As of recent years, the housing market in Palm Island is relatively modest when compared to mainland urban areas, primarily due to its geographical constraints and the socio-economic profile of the region. The island predominately features public housing, reflecting its historical development as an Aboriginal reserve. This aspect significantly influences the housing market, as a substantial portion of the residential sector is managed by government or community organizations. Demand for housing here can be driven by local needs rather than external investment, and this can affect property values and availability.
Living on Palm Island offers a distinct experience reflective of its rich cultural heritage and stunning natural surroundings. Residents enjoy a close-knit community atmosphere, with many ties to Indigenous culture and traditions. This sense of community is a significant draw for those seeking a lifestyle immersed in cultural identity and natural beauty. Life on the island is slower-paced and centered around community activities and the natural environment, such as fishing, boating, and exploring the lush landscapes. However, living on Palm Island also presents challenges typical of remote island life, including limited access to amenities and services found on the mainland, such as advanced healthcare, diverse retail options, and higher education facilities. Despite these challenges, many residents take pride in the island's strong cultural identity, making it a truly unique place to call home.
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Housing Stock
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Thinking about buying in Palm Island? Now could not be a better time, with 1202 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $260,000 with prices in this suburb ranging from $120,000 to $381,000. Palm Island is located very near to the coast so expect stunning views of the ocean and access to beaches. Demand is likely to be very strong in this location which will support higher prices
In Palm Island there has been a history of lower than average prices and demand, offering opportunities for investors or first home owners, especially in the context of the growth in working from home. Low average incomes in Palm Island is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. The slightly lower than average earnings from occupations in Palm Island changes the housing and lifestyle preference. It is more a matter of what can be afforded rather than what would we prefer, leading to slower price increases over time. Medium density in Palm Island necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. Lower than average industry presence in Palm Island we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Palm Island a better buying opportunity than it may have been in the past.
Instant Property ValuationSt Michael's Catholic School
Bwgcolman Community School
(While the above schools are located with the suburb of Palm Island there may also be nearby schools whose catchments cover this suburb)Incidents Trend State Average
| (mm) RAIN | Min (°C) TEMP | Max (°C) TEMP | Min (%) HUMIDITY | Max (%) HUMIDITY | (m/sec) WIND | (MJ/sq m) SOLAR | |
|---|---|---|---|---|---|---|---|
| Jun | 0.7 | 15.5 | 25.9 | 46.9 | 92.0 | 3.5 | 15.6 |
| Jul | 0.6 | 14.8 | 25.9 | 44.6 | 91.7 | 3.6 | 17.0 |
| Aug | 0.4 | 15.0 | 26.8 | 42.6 | 92.4 | 3.7 | 19.7 |
| Sept | 0.1 | 17.4 | 28.4 | 42.3 | 88.4 | 4.3 | 23.8 |
| Oct | 0.6 | 20.9 | 29.8 | 46.9 | 85.0 | 5.0 | 25.7 |
| Nov | 1.8 | 23.2 | 30.8 | 52.2 | 84.4 | 5.1 | 26.9 |
| Dec | 5.1 | 24.6 | 32.0 | 52.3 | 84.9 | 5.1 | 27.1 |
| Jan | 8.5 | 24.9 | 31.8 | 58.4 | 89.9 | 4.6 | 22.8 |
| Feb | 6.6 | 24.9 | 32.4 | 57.2 | 91.6 | 4.0 | 23.1 |
| Mar | 9.3 | 23.9 | 31 | 59.8 | 91.5 | 4.3 | 20.3 |
| Apr | 1.6 | 21.6 | 30.2 | 52.6 | 90.1 | 4.0 | 19.7 |
| May | 1.1 | 17.7 | 27.9 | 46.9 | 90.7 | 3.8 | 17.0 |
source: Australian Government Bureau of Meteorology
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