ISLAND FOR SALE: Cheap Fraser Coast island drops price again

The cheapest island for sale has just become cheaper.

ONE of Australia's cheapest islands on the property market has just had its price slashed. 

Fraser Coast's Suna Island, which is located in the Great Sandy Strait, was originally put on the market last month for $289,000.

But Chris Couper and Associates' principal realtor Chris Couper said the 20-acre property is now going for $259,000.

"It's about the same price as a standard house in Hervey Bay," Mr Couper said.

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For the approximate cost of a block of land, you can buy the 7.8 hectare sub-tropical island nestled in the Great Sandy Strait between the Dimonds, North Maaroom and Fraser Island.

Mostly accessible by boat, Suna Island is zoned rural residential so aside from boasting deep water anchorage at the front, it is possible to build on with council approval.

The property has appeared on the market only a few times previously.

In 1988 it sold for $160,000 and six years later in 1994 it sold for just $50,000.

Suna Island appeared back on the market in 2011 for $170,000 when it was sold to a local builder.