On your marks, get set, buy!

News.com.au

24-05-2025

The race to buy in Brisbane before 2032 is on, with more than 1.5m Australians expected to try lock down their own slice of the river city before the Olympics comes to town.
A new survey by Finder found 7 per cent of Australians were planning to buy property in Brisbane in the lead up the 2032 Olympic and Paralympic Games.
That equated to about 1.5m people hoping to create their own Olympic gold through capital growth.
The Finder research found one in 10 Queenslanders wanted to buy in Brisbane in hopes of experiencing strong house price growth.
About 8 per cent of New South Wales residents were prepared to buy north of the border to take advantage of Olympic value gains, while 6 per cent of Victorians were also keen to invest in Brisbane real estate.
Finder personal finance expert, Sarah Megginson said the 2032 Games might be nine years away, but the race for Brisbane property had already begun.
'Brisbane is in the global spotlight and that buzz is translating into serious buyer interest,' she said.
'With so many people eyeing Brisbane property, we're likely to see demand outpace supply, and that can put upward pressure on prices.'
Terry Ryder, director of real estate research company Hotspotting, said history had shown Olympic host cities saw increases in home prices in the lead up to the Games.
'In the five years leading up to the 1992 Barcelona Olympics, property prices rose by 130 per cent,' he said.
'In Sydney between 1996 and 2001 home prices rose 53 per cent.'
Mr Ryder said since it was announced Brisbane would host the 2032 Olympic Games, median house prices surged in the city as well as on the Gold Coast and Sunshine Coast, going from between $650,000 and $750,000 in 2021 to about $1m.
'You wouldn't attribute all uplift to the Games, but it's certainly a factor,' he said.
Brisbane real estate agent Ally Edmonds, of Place Bulimba, said savvy buyers were already acting in anticipation of an expected pre-Olympics price boom.
'I'm selling a boutique apartment project in Kangaroo Point targeting the downsizer market that won't be completed until 2027,' she said.
'What I'm seeing is people buying now so they don't miss the boat.
'These are buyers who are considering downsizing within the next five years or so, but realise the market may be out of reach before then.'
Ms Edmonds said buyers were also keen to be in the thick of not only the Olympics come 2032, but also the planned infrastructure upgrades.
'I'm so excited for Brisbane to be put on that world stage and apart from the infrastructure and the developments, the lifestyle precincts being created will support generations to come.'
Ms Edmonds said demand remained high for city property, but supply just wasn't there, especially in terms of quality apartment stock.
'Brisbane's already one of the fastest growing markets in Australia without the Olympics,' she said.
'Add the Olympics and it's hard not imagine we'll see storing growth in the next 10 years and the 10 years after that.'
A Colliers International report highlighted the emerging 'golden rings of opportunity' for property investors around areas earmarked as Olympic venues.
The research found the 2032 Games were already unlocking commercial growth and infrastructure transformation, especially near the strategic 'golden rings' connecting the new 63,000-seat Victoria Park Stadium in Herston, the Athletes' Village in Bowen Hills, the National Aquatic Centre in Spring Hill and the surrounding precincts.
Colliers Queensland chief executive, Simon Beirne said these areas would see a quick surge in investment and development, if previous Olympic cities as well as what was seen after the announcement of Woolloongabba hosting the main stadium was anything to go by.
'The Victoria Park precinct and surrounding suburbs are likely to see similar trends as investors position themselves ahead of major infrastructure rollouts,' he said.
'Rising demand for housing, retail, and office space will drive above average capital growth, making these precincts key hotspots for developers, investors, and businesses.'
Mr Beirne said the 2032 Olympics would reshape Brisbane's inner city with world class infrastructure, better public transport, and an increase in investment.
'Areas like Herston, Spring Hill, Bowen Hills, Fortitude Valley and Roma Street will feel the biggest impact, as limited space in the CBD pushes new commercial and residential projects into these growing precincts,' he said.
'These once overlooked areas will experience unprecedented activation, evolving into high density, highly connected urban hubs.
'There will be a significant amount of focus from the Government and Brisbane City Council on connecting the precincts and linking Victoria Park to Suncorp Stadium and South Bank, providing many further commercial opportunities.'
Mr Beirne said Brisbane's industrial and commercial property markets would also see significant growth.
'The Games will drive demand for logistics, warehousing, and last-mile distribution centres, especially in key fringe areas where transport links are improving,' he said.
Mr Ryder said co-host cities, such as the Sunshine Coast, Gold Coast, Townsville, Cairns, Rockhampton and Toowoomba would also benefit from the Games, with sporting and transport infrastructure projects and increased tourism creating more jobs, more interest in the regions and more demand for real estate.
'One of the stats from the feasibility study they did for the Games shows in the years leading up to the event, they're expecting 91,600 jobs to be created in Queensland,' he said.
'The quantifiable economic and social benefits for Queensland is estimated to be $8.1b and for Australia $17.6b overall.
'They've estimate they will spend $7.1b on facilities to prepare for the games.
'Imagine how many jobs that will create and those people will come into Brisbane, the Sunshine Coast, Townsville and Cairns to work on projects.
'The projects will take years to build and the workers will need somewhere to live.
'Some won't want to leave – they'll experience the weather and lifestyle and choose to stay.'
Mr Ryder said the expected increase in tourism to the regions – as well as Brisbane – wouldn't just be for duration of the Olympics.
'In Sydney, during the 2000 Games tourism increased 22 per cent that year, and in the 10 years that followed tourism was up 15 or 16 per cent,' he said.
'Were going to see those types of increases for Townsville and Cairns.
'These regional cities will have upgraded facilities and become better known because of the Olympics.
'The will go on to attract other major sporting events as well as tourism benefits.'