The island consisted of numerous small farms which supplied produce to the mainland Brisbane market.

Due to the unique micro climate created by the islands geographic location, its extremely fertile volcanic soil and the pure sand aquifers that run beneath it, the farmers were able to supply superior produce to the mainland market earlier than their mainland competitors.

There were several boats (including the well known historic vessels "Roo" and "Amazon") which travelled from the upper reaches of the Brisbane river out to the island to transport the produce.

Peggy Saunders was the wife of one of the original farmers and was well known for her beautiful garden which was located on the Western waterfront of the island.

[citation needed] In the late 1970s, Lamb Island, like much of South East Queensland, was developed into small residential allotments.

The island has remained largely undeveloped with the majority of the small residential lots being left as vacant land.

[citation needed] The Island has a very active incorporated residents' association (LIRA - Lamb Island Resident's Association) which is regularly engaged in community improvement projects which have included native tree planting, heritage site restoration/maintenance and general facility upgrades.

90.4% of people spoke only English at home; the next most common languages were 2.8% Tagalog, 0.9% German, 0.9% French, 0.9% Samoan, 0.9% Spanish.

The high speed passenger ferry takes approximately 15 minutes from the Redland Bay marina on the mainland.

[citation needed] The cost of travel on the high speed ferry between the other Southern Moreton Bay Islands is free of charge.