The Olympics will be property gold for Brisbane

Brisbane property values are set to skyrocket ahead of the Olympic Games in 2032. Find out where to invest and what will drive up demand.?

There are now less than ten years until the 2032 Olympics in Brisbane… it is ‘oh so near and yet so far’.?

We are coming into an exciting period of Olympic preparations as the Federal and State Governments invest in infrastructure, which will have the flow on effect of creating more jobs and ramping up demand for accommodation.??

Brisbane infrastructure projects

As reported by?Brisbane Development, our much-loved Gabba will be demolished and rebuilt to become a focal point of the Olympics and have a capacity of up to 50,000 people. While this major project was originally forecast to cost $1 billion, it is now expected to require additional funding. The?Queensland Government?is expecting support from the Federal Government to help cover the investment.

One of the benefits of Brisbane holding the Games is having the biggest stadium to be associated with the event only a stone’s throw from the CBD. In comparison, Sydney’s Olympic Park is around 13 kilometres away from the Harbour Bridge and other tourist draw cards. This means visiting sports fans won’t have to choose between enjoying the city and attending an event on the day they have tickets.?

Other infrastructure investments as part of the Brisbane Olympics Master Plan include:?

• Athlete accommodation in Northshore Hamilton
• Brisbane Arena near the Roma Street Parklands (to host the Olympic Swimming, Olympic Water Polo finals and Paralympic Swimming)
• Brisbane Indoor Sports Centre at Albion
• Chandler Indoor Sports Centre

Outside of Olympic-specific venues, development is underway on projects including the?Cross River Rail,?Brisbane Metro, an?entertainment and lifestyle precinct at Queen’s Wharf?and the upgraded?International Cruise Terminal?(to name a few).?

Every one of these projects means jobs: as reported by?9News, it’s anticipated the games will generate at least 150,000 jobs across Queensland’s south-east, concentrated primarily in construction and hospitality. Jobs mean migrants (from interstate and overseas) and this means increased demand for property.?

The 2032 Olympics and Brisbane property

We can say it with complete confidence: by the time 2032 rolls around, thousands of people will be saying, “I wish I had put money into Brisbane property ten years ago.” The Olympic effect is well documented and few investors go wrong in the leadup to a major global event like this.?

Property buying advisors always say “Follow the infrastructure”. At this point in time, there is no better place than Brisbane to do so. Any home located in a suburb close to the city can expect exciting growth as the eyes of the world are drawn to the Queensland capital.?

What’s most exciting to note is how buyer appetite’s are already rising.?Recent reports say?global searches for Brisbane property have spiked. Meanwhile, if you look at the numbers for suburbs like New Farm, Fortitude Valley and Tenerife, you will see they have bucked national ‘trends’ to grow in value over the last twelve months. Any suburb related to the Olympics, such as Wollongabba or even Chandler where there will be an event venue, have high confidence and will continue to do so.?

Options abound for home owners and investors. As an investor, it’s unlikely you will struggle to find tenants in the leadup to the Olympics thanks to the number of jobs on offer in Brisbane. As an owner, depending on the size of the property, you can investigate leasing it during the Olympics to make some extra cash. Meanwhile, it will rise in value, giving you excellent returns and more financial flexibility in the future.?

Want to explore your property options ahead of the Brisbane Olympics? Get in touch today.?

Hope you enjoy the read.

Matt Lancashire