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Most visitors to Magnetic Island will want to stay for a while and there is lots of accommodation on Magnetic Island to cater for this need. The island is a popular holiday destination for many people. Local residents of Townsville tend to use Magnetic Island as a weekend retreat and regular ferry services between the two make this very easy. Many Australian families like to spend their annual holidays on the island enjoying its beautiful beaches and scenery while staying in local holiday houses and bed and breakfast establishments. There are many mines surrounding the Townsville regions and their workers work seven days on, sevendays off, giving them regular breaks where they can enjoy the best Magnetic Island accommodation.

There are several popular places to stay on Magnetic Island. Surrounding the ferry terminal at the boat harbour are several new aparment style resorts which provide four star self contained accommodation that also have a restaurant within the complex. These properties are the most popular on the island. Two bays on the island have a great supply of holiday apartments, some of them right on the beachfront. The best of these are Nelly Bay and Horseshoe Bay. Both have their own shopping areas with restaurants and fast food outlets.

Accommodation on Magnetic Island is available in most formats but like most islands it is wise to book early as no vacancy signs can appear at any time of year.