Why is Russell Island, located in Moreton Bay so cheap?

Council and a magazine down play's the islands in total for year's now more actual people have seen and done the maths themselves don't be someone to say, I could have or I should have do it now Land prices rising for the next 3 years and beyond Chris Zahn Macleay island.

Because it is an undiscovered paradise, that is the only reason. It has to be, where else can you get land with the water at the end of your street for $20k! People say low prices because of isolation/location, well I can think of a hundred places around Australia where the same can be said, but the prices at those locations are through the roof, just because they have "water at the end of the street"
If you want fast capital gain, probably not going to happen in our lifetimes, but if you want everything else the islands have to offer, then don't waste any more time, come over to have a look, make you own minds up. There are no catches or negatives, other than the obvious, we live on islands!