Brisbane Olympics present golden opportunity for property investors
The Olympics are coming to Brisbane and it could spell fun and games for property investors as a surge in migration and infrastructure spending creates a unique investment opportunity, writes Jack Freestone, Director, Buyers Collective.
In case you haven’t heard, the 2032 Olympics are set to take place in Brisbane, marking a historic first for the city.
This monumental event isn’t just exciting news for sports enthusiasts and Queensland’s tourism industry; it also holds significant implications for Brisbane’s ever-evolving property market. As the second-best performing capital city in Australia in terms of property price growth, Brisbane is already on a promising trajectory.
The upcoming Olympics could make this an ideal time for savvy investors to secure property in the region, particularly in Brisbane and the Gold Coast.
Buyers Collective has been closely monitoring how the 2032 Olympics might influence the property landscape.
Let’s dive into the potential impact of this global event on Brisbane’s housing market and explore which suburbs might experience the most significant value increases.
Olympian impact on Brisbane’s property market
One of the key questions surrounding the Olympics is where the 3,000 athletes will be housed.
The 2032 Athlete’s Village will be located in the relatively undeveloped Hamilton north shore, following a blueprint similar to the existing apartment complexes in the suburb.
This strategic approach will help the Queensland State Government avoid the financial pitfalls faced by cities like Rio de Janeiro and Athens, which incurred substantial debt from their Olympic facilities.
After the games, Brisbane plans to repurpose the Athlete’s Village much like the Commonwealth Games Athlete’s Village on the Gold Coast, which has since been transformed into residential buildings and event spaces.
Additionally, the construction boom for the Olympics is expected to attract more than $500 million in private investment and create 1,600 new construction jobs, providing a significant boost to the local economy.
Suburbs poised for growth
While property values are expected to rise across Brisbane and Queensland as a whole, certain suburbs are likely to see more significant growth.
Properties within a 10-kilometre radius of the Brisbane CBD are predicted to benefit the most. Additionally, suburbs on the Gold Coast within 5 to 10 kilometres of the beach are also expected to see significant growth.
The combination of government infrastructure investment, a surge in migration, low stock levels, and strong buyer demand creates a unique opportunity for investors.
Brisbane’s inner-ring suburbs have been seeing strong capital growth, with rates typically around 7 to 9 per cent. As we move closer to the Olympics, these areas are expected to benefit from ongoing infrastructure improvements, potentially driving further growth and making them attractive for long-term investors.
The inner-ring suburbs also offer strong rental yields, typically in the range of 4.5 to 5 per cent. With the Olympics boosting both tourism and population growth, rental demand is expected to rise, providing solid income for investors alongside property appreciation.
Off-market opportunities in these high-demand areas allow investors to secure prime properties without the competition that comes with public listings. This can be especially advantageous in Brisbane’s tight market, where access to the best properties is becoming increasingly competitive, particularly as we approach the Olympics.
What is fuelling demand?
Brisbane is currently experiencing a substantial influx of interstate and international migration, further driving demand in an already competitive property market.
Coupled with massive government investments in local infrastructure—such as the Cross River Rail and Brisbane Metro—these developments are set to enhance the city’s appeal and spur further growth in property values.
Adding to the mix is the fact that Brisbane is currently experiencing historically low stock levels.
With fewer properties on the market and strong buyer demand, basic economics suggests prices will continue to rise.
The shortage of available properties, combined with the growing interest from local and international buyers, means competition is fierce and opportunities to secure prime real estate are becoming increasingly rare.
The combination of government infrastructure investment, a surge in migration, low stock levels, and strong buyer demand creates a unique opportunity for investors.