Karragarra Island
Karragarra Island
is the smallest in the Southern Moreton Bay island group.
It is about half a kilometre wide by 4 kilometres long and
has an estimated population of 200 (160 residents in the 2011
census. As at July 2013, Karragarra Island had 242 properties
issued with valuations by the Department of Natural Resources
and Mines. Of these approximately 147 have private dwellings
constructed upon them.
Karragarra has
no shops and all provisions must be brought from the mainland
or from shops on larger islands. It has a variety of country
types, from coastal forest with rich red volcanic soils to
wallum forest and melaleuca wetlands. The island is fringed
with mangrove forest and tidal mudflats that provide a rich
ecosystem for both invertebrate and vertebrate fauna. Needless
to say the fishing and crabbing can be good. The island has
a sandy beach at its' north western extremity. With advancements
in communication and information technology, people are increasingly
choosing places like Karragarra Island to live and work from
home.
In line with other
locations, Karragarra Island real estate took a hit during
the Global Financial Crisis of 2008, bottoming out in mid-2011.
Values remained fairly level, but in that time the Southern
Moreton Bay Islands, including Karragarra, saw a significant
increase in both building activity and population. More and
more people were starting to realize the benefits of Island
life and Redland City Council were finally starting to pump
money into much needed infrastructure.
Now finally the
Banking sector are making investment into the Southern Bay
Islands, including Karragarra Island, a little more realistic
with less stringent loan to valuation ratios. Since the last
quarter of 2020, we have seen a marked increase in value for
the better situated real estate.
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