South East Queensland's Golden Opportunity: Capitalising on the 2032 Olympic

South East Queensland’s Golden Opportunity: Capitalising on the 2032 Olympic

The countdown is on! The 2032 Olympic and Paralympic Games are set to transform South East Queensland into a global sporting hub, and with it comes an exciting opportunity for property investors and aspiring homeowners:

Brisbane Market Boom: Experts predict Brisbane house prices could more than double by 2032, exceeding $1.4 million [source: AFR – Olympics To Fuel Brisbane Housing Boom]. This aligns with past trends, like the 112.7% price increase observed after Brisbane hosted the 2014 G20 summit [source: Inside The Games – Brisbane 2032 set to spark property boom in Queensland].
Economic Boost: The Games are expected to generate an estimated $8 billion in economic and social benefits for Queensland, including 91,600 new jobs [source: Inside The Games – Brisbane 2032 set to spark property boom in Queensland]. This increased economic activity will likely lead to further property market growth.

Hosting the Olympics has a well-documented impact on property markets, though the impact varies depending on the city and its existing development stage. Here’s a brief overview of past Games:

Barcelona 1992: Barcelona witnessed a 36% property price rise in the decade leading up to the 1992 Games, with the most significant growth in areas undergoing urban renewal [source: KPMG – The Impact of Hosting the Olympic Games on a City’s Economy]. This case study highlights how the Olympics can have a powerful effect on urban projects, leading to increased property values in those areas.
Sydney 2000: Property values in Sydney jumped a shocking 60% between the Olympic announcement in 1993 and the Games themselves in 2000 [source: REIQ – Will Queensland’s property prices win gold after the 2032 Olympics?]. This significant growth was attributed to infrastructure upgrades, increased tourism, and a general sense of excitement and development.
London 2012: While London was already a well-established city, property prices still saw a 38% increase in the lead-up to the 2012 Games [source: AllianceCorp – What The Data Says About How Olympics Will Impact Brisbane House Prices]. This growth was concentrated in areas surrounding the Olympic Park, which benefited from significant regeneration projects.

But the 2032 Games aren’t just about Brisbane. The entire region is expecting significant growth. Infrastructure upgrades, increased tourism, and a booming job market will bring a spotlight to all of South East Queensland.

Here’s a breakdown of some key areas to watch and the events they might host:

Brisbane City: The heart of the action, Brisbane will see a surge in development, particularly around key venues, with athlete’s villages, sporting facilities, and revitalised transportation networks. The iconic Gabba stadium is expected to host the Opening and Closing Ceremonies, as well as Athletics. A new Aquatic Centre could be built in Brisbane to host Swimming, Diving, Synchronised Swimming, and possibly Water Polo. Other venues are likely throughout the city for sports like Gymnastics, Basketball, Weightlifting, and Badminton.
Gold Coast & Sunshine Coast: These established tourism destinations will experience renewed interest. Expect increased demand for properties with proximity to beaches and leisure activities. The Gold Coast, with its world-famous waves, is a strong contender to host Surfing events. While no specific events are currently proposed for the Sunshine Coast, its existing infrastructure could be used for some cycling events or potentially even rowing.
Areas to watch: Suburbs like Redland Bay, Ipswich, and Beaudesert are also showing promise. These areas offer affordability and potential for significant growth as infrastructure expands to support the Games.

Important Note: The specific locations for all events haven’t been finalised yet. This information is based on proposals only.

The 2032 Games present a unique opportunity to invest in your future. Whether you’re a seasoned investor or a first-time buyer, bytherules Conveyancing is here to support you with all your conveyancing needs. Contact your local franchise for more information!