The paradise island that costs less than a house in the UK

An island off Australia costs less than the average price of a UK home

The island for sale is off the coast of Tasmania (Larsen Collinge International)

Forget getting your foot on the property ladder, for just over £150,000 you can buy your own idyllic island.

Letting agent Ray White Southern Tasmania just added Huon Island to its books – and it's yours for a mere $300,000 Australian dollars, which works out to £163,149.

Located off the coast of Tasmania, the slice of paradise is accessible via a 10-minute boat trip.

The buyer would be sharing the 1.5 hectare piece of land with just three other families.

Listing agent Simon Purdon said: “It’s so peaceful — when you’re there, you feel like it’s your own part of the world, secluded and quiet.”

And with the average house price in the UK £284,000, according to the Office for National Statistic (ONS), your own island may be more appealing.

Londoners face the highest bill if they want to put roots down, with their own home setting them back on average £524,000.

A 9.7 per cent jump since last year, city dwellers face a 46-year wait to save enough for a mortgage.

Elsewhere in the UK, first-time buyers can expect to save for 13 years before reaching enough to put down a deposit.

Needless to say the agent selling the island has been getting up to three calls a day about the getaway, and warned it would be snapped up soon.

And as the number of young homeowners’ declines and generation rent soars, it may be time to invest.