10 Grevillea Street, Russell Island QLD 4184
10 Grevillea Street, Russell Island QLD 4184
Newly built 2023 | Compact 2-bed island house | 546m² low-maintenance block | FTTP fibre connected | No overlay constraints
This is a rare find on Russell Island—most local stock leans toward older, larger 3-bedroom homes that often need work. This 2023-built house offers a modern, turn-key alternative with fibre-to-the-premises internet and a manageable 546m² lot. It suits first-home buyers wanting an affordable entry into island living, downsizers prioritising low upkeep, or investors seeking a clean, lease-ready property with strong appeal in a market where dated homes dominate. Its compact two-bedroom layout is the trade-off, but the new construction and efficient footprint make it a practical, low-risk choice.
The property’s value may be supported by its recent build year and lack of bushfire or flood overlays, which simplifies insurance and lending. Its 2-bedroom configuration might limit appeal to families, but could attract couples or singles seeking simplicity. The 546m² block offers modest outdoor space without high maintenance. Future resale may hinge on how buyers weigh newness against the island’s preference for larger homes—those wanting more space might look past it, while those prioritising condition could pay a premium.
Detailed Independent Property Report prepared by PropCred Analyst team for 10 Grevillea Street, Russell Island QLD 4184
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
2
Income Risk
1
Execution Risk
2
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Market Insight
Russell Island, an island suburb in southern Moreton Bay with no bridge access, is positioned as an affordable lifestyle market relative to the mainland. Demand is driven by retirees, families, and investors attracted to land availability, natural surrounds, and a close-knit community. Median house prices range from $430,000 to $479,000, with annual growth between 9.97% and 15.5% across sources. Rents average $445–$450 per week, producing a gross yield near 5% for houses. Sales volumes are inconsistent, ranging from 44 to 313 annually, and days on market stretch from 58 to 153 days, pointing to a thin, cautious buyer pool. Future growth relies on southern Moreton Bay development, while ferry dependence and limited access remain the principal constraints.
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PropCred Estimated Value
Comparable Sales: 8 Grevillea St sold $450,000 (3-bed, 546m²) | Property Price Band: $500,000–$600,000 | Value Drivers: 2023 build quality, modern finishes, low-maintenance land size
Bedrooms
2
Bathroom
2
Parking
1
Land
546m²
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