Finder's research forecasts that approximately 1.5 million people will be eyeing Brisbane real estate leading up to the 2032 Olympic Games. Industry experts underline the far-reaching effects on Brisbane's inner and middle-ring suburbs, noting the potential for substantial market changes.
Industry publication, Australian Property Investor, has highlighted the anticipated ripple effect on the housing market, particularly around new infrastructure like the planned stadium at Victoria Park. This area, formerly a public park, is predicted to significantly elevate property values.
Despite these projections, some voices in the industry, such as Simon Pressley of Propertyology, advise caution. Speaking to Channel 7, Pressley noted the complexity of property markets, emphasising that no universal link has been established between Olympic Games and real estate booms. He drew parallels with Sydney's property surge during the 2000 Olympics, attributing the boom to broader economic factors.
Nonetheless, Queensland's property market remains robust. Pressley remarked on the fierce competition among buyers, noting limited property availability. Current data reflects this, with Brisbane's median dwelling value rising by 7.1% over the past year to $918,000 — surpassed only by Perth within capital cities, while regional South Australia leads national growth.
The Queensland government's March announcement of a new Olympic precinct has spurred expectations of statewide construction, involving various athletic facilities. Pressley pointed out upcoming challenges, such as obtaining skilled labour, as key hurdles for the state's administration.
