Victor Island in the Whitsundays is being sold with everything included

According to Richard Vanhoff from Private Islands Australia, who is not handling the sale, it is one of less than 20 islands, or parts of islands, currently for sale in Australia.

The cheapest is Worthington Island in Queensland at $385,000, and the priciest is the freehold portion of Dunk Island, the former resort, for about $20 million.

Victor Island is just off the coast of Mackay. Photo: Supplied

The home and caretakers cottage on Victor Island have been renovated. Photo: Supplied

But what, or who, determines the price of islands? “It’s challenging to price islands,” said Mr Vanhoff.

But “at this point in time, islands are a lot cheaper than people imagine.”

It is often the owner who determines the asking price, and the price can fluctuate. Mr Vanhoff said that the 120-hectare parcel on Wild Duck Island in Queensland was originally listed for $4.5 million, “and now they’ll take $2.5 million”.

Victor Island has several beaches and walking tracks. Photo: Supplied

The mainland is about 30 minutes away by boat. Photo: Supplied

Accessibility is very important. Mr Vanhoff said that most islands need to have a runway. “Or at the least a helipad. Or they have a wharf – and then you look for deep water.”

Islands that don’t have extreme weather conditions, such as cyclones, are preferred. Islands in the far north of Australia can be trickier to sell. Mr Vanhoff said that when visiting islands in Queensland’s far north, “the first thing you see is the bent trees, and that’s a bit of a turn-off.”

The only damage Victor Island incurred from cyclone Debbie in 2017, was a few leaves on the white sand.

An outdoor lounge room on Victor Island. Photo: Supplied

The main house has four bedrooms and is being sold fully furnished. Photo: Supplied

Megan Sullivan, who owns Victor Island with her husband, Paul, said: “We’re like the Greyjoys [from Game of Thrones]. We’re on our own little island. We’re safe.”

Islands need to have their own water supply, said Mr Vanhoff, with many having water from the aquifer – water deep under the ground.

Electricity matters, too. Victor Island has a solar electricity system, with a back-up generator, and it has 200,000-litre rainwater storage, and a 100-square-metre freshwater dam.

“Catching your own rainwater, creating your own power, catching your own fish, growing your own fruit and veg, it’s very rewarding,” Mrs Sullivan said.

Worthington Island is the cheapest Australian island for sale, at $385,000. Photo: Private Islands Australia

Mr Vanhoff said that the quality of the dwellings influences the sale price. Worthington Island has only rudimentary buildings. But since 2015, the buildings and gardens of Victor Island have been extensively renovated. “It’s been hard, because you’ve got to barge everything over, and then get it off the beach,” Mrs Sullivan said.

The island’s home has four bedrooms, with an assortment of king and queen sized beds, two bathrooms, and a modern kitchen.

“Victor Island has very nice accommodation,” Mr Vanhoff said.

The sale also includes the newly renovated studio-style caretakers cottage, a bed-and-breakfast licence, and comes with all furnishings, vehicles and tools, including a John Deere 4WD tractor with bucket, a ride-on lawnmower, and the boat – a 4.7-metre Trailcraft Profish. “It’s walk-off, walk-on,” Mrs Sullivan said.

It was often difficult to predict who would buy an island, Mr Vanhoff said.

“It’s a funny market. It’s not always the people you expect who will buy.” He said that Chinese citizens used to be large buyers of Australian islands, but now that market “has dried up”.

After a tropical four years, a new grandson in NSW is luring the Sullivans back to the mainland, but they can’t figure out where to live next.  “What could you possibly beat an island with?” Mrs Sullivan said.