THE bay islands are going through a property boom, with council approving hundreds of residential developments as people snap-up land for well below Redland mainland prices.
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Professionals estate agent Jackie Prentis said the Russell Island demographic had changed dramatically in the past six months as families and retirees moved in.
The Redland City Bulletin reported earlier this year that the bay island market had benefitted from people dipping into superannuation and taking up government grants during the pandemic.
Data has revealed hundreds of council residential building applications have been approved on the bay islands since the start of 2020, including more than 200 on Russell Island.
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Ms Prentis said affordability was a driving factor, with house and land prices on the island well below those on the mainland.
"To build a four-bedroom, ensuite house on the mainland, it costs about $280,000," Ms Prentis said.
"Then you have got to finish it off with landscaping and the rest so you are looking at a cool $300,000.
"You can go to Russell, there is no covenant, they can have a four-bedroom with ensuite built for them ... and they are building them for $210,000. They have bought the block of land for $25,000.
"The dearest block of land over there at the moment is about $65,000."
Russell Island Development Association president Ian Olsson said the influx of new home owners meant council needed to inject millions into infrastructure like sewage reticulation.
"Increasing numbers of people will build and make these island gems their future home," he said.
"Redland City Council needs to shoulder its responsibility to act now and not procrastinate anymore."
Ms Prentis said people were also drawn to Russell Island for serenity, safety and cheap ferry transport.
"It is a lifestyle change, going back to the old days where you would get some mates together, go down to the park and have a game of cricket," she said.
"Not many people let their kids out on the mainland these days."
The boom comes as property experts warn prospective homeowners against buying without inspecting.
Legal company Dye and Durham managing director Peter Maloney said people should research things that are likely to impact re-sale value, such as development applications and government infrastructure plans.
"We know those from lockdown areas are now buying up in Queensland, so can't always see the property before signing on that dotted line, but there is plenty they can do to protect themselves," he said.
Much like the mainland, rentals are being snapped up on Russell Island as soon as they become available.
"But some properties have increased by $70 a week for two-bedroom houses," Ms Prentis said.
"Four bedrooms (with) ensuite are now up around $500 if they have water views."
Mr Olsson said it was pleasing to see an increasing number of people investing in the islands.
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