Thinking about buying in Palm Island? Now could not be a better time, with 1202 properties either residential or commercial there's certainly plenty to choose from.
The average property price for this area is $260,000 with prices in this suburb ranging from $120,000 to $381,000.
Palm Island is located near the coast as well as views of the ocean, demand is likely to be high
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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.
St 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)
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source: Australian Government Bureau of Meteorology
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