Tasmania's Puncheon Island for sale, could be state's most affordable private island

Puncheon Island, one of about 100 islands in the Furneaux Group in Bass Strait, is expected to attract offers of $1.5 million-plus after being listed late last month.

The 40-hectare property is a 20-minute boat trip from Lady Barron in Flinders Island, and boasts a three-bedroom cottage and a wharf.

It is the Furneaux Group's only freehold island - meaning ownership is not subject to a set time period - and one of only about 12 freehold islands in Tasmania.

"At offers over $1.5 million I reckon it puts it right up there with one of the most affordable freehold islands that I've seen marketed in recent times," said selling agent Colin Wilson, of Nutrien Harcourts Flinders Island.

"It's probably had four or five owners over the journey - they've used it for a number of reasons from holiday type destinations to permanent habitation.

"It has attracted wide interest since listing ... local and interstate and I've had overseas calls as well."

The island, which has been in the same ownership for about 25 years, is powered by solar panels and a silenced backup generator.

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It is the latest in a string of Tasmanian islands to hit the market including the freehold Ram Island on the East Coast, which could attract offers between $6 million and $10 million.

Puncheon Island's neighbour Vansittart Island, a 203-hectare property that shares views of the 1912 shipwreck Farsund, was listed for sale in October while Ninth Island has recently been relisted.

About 20 Furneaux Group islands are inhabited.