Today Tonight

Did anyone see the Today Tonight Story. I missed it but was told our local "Real Estate" was interviewed saying what an investment opportunity along 90 mile beach.. I think we need to answer the story?? What do you all think


Achieving the Australian dream
Reporter: Marguerite McKinnon
Broadcast Date: September 03, 2007
The great dream of buying a home, let alone one by the beach, is something many believe will never happen but there are still some bargains.
In some suburbs, Australians can pick up coastal land for as little as $10,000.
Australia's east coast is blue-ribbon real estate with a price-tag to match but just when you thought there was no chance of buying a beachside paradise, some little gems have surfaced in Queensland, New South Wales and Victoria.
Just ask owner Duncan Knightsbridge.
"You didn't hear this from me but this is the best kept secret in Australia, let alone the world," he said.
Russell Island, off mainland Queensland, has shaken off its 1970s bad investment reputation.
The median land price is $32,000 and along with Coolbie, is one of Queensland's best bargains.
Allan Murray's $5000 is now 17 times more valuable.
"I purchased a block of dirt on Russell Island about 27 years ago and now it's worth anything from $80,000 to $90,000," he said.
Real Estate Agent, Max Platt, said Russell Island is a goldmine.
"Well if you could buy a nice block of land with some water views for around about the $75,000-$85,000, I think by the middle of next year you'd see a rise of somewhere up around the $135,000 mark," he said.
"The cheapest block we've got on the island at the moment is $55,000."
It is a similar story down south in Victoria where two sites standout.
At the aptly named Paradise Beach, a 600sqm block of land costs about $53,000 while Golden Beach has land for about $58,000.
But the cheapest coastal land in the country is in NSW and Wyee has land for $45,000, North Arm Cove is selling for $22,000.
John Rumble from Hawks Nest First National Real Estate said there is a catch.
"Basically they start from around $10,000, you get about 900sqm block of land and it's a non-urban block of land," he said.
"I mean it's very rare that you can find a block of land this close to the coast for $10,000, even though you can't do anything with it."
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